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  3. 3. on january 1, 2016, kelton, inc. issued long-te

3. On January 1, 2016, Kelton, Inc. issued long-term notes payable for $50,000. The note...

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Accounting

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3. On January 1, 2016, Kelton, Inc. issued long-term notes payable for $50,000. The note will be paid over 10 years with payments of $5,000 plus 12% interest due each January 1, beginning January 1, 2017. Prepare the amortization schedule for the first three payments. Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance $50,000 01/01/2016 01/01/2017 01/01/2018 01/01/2019

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