BE10.8 (LO 2) Hyatt Inc. received a five-year bank loan bearing interest at 7% with...
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BE10.8 (LO 2) Hyatt Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalment payments due annually. The following instalment payment schedule is partially completed: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date $50,000 $12,195 $ [1] $ 8,695 41,305 [2] 2,891 [3] 32,001 3 [4] [5] 9,955 [6] 4 [7] 1,543 [8] 11,394 5 [9] 801 11,394 [10] 1 2. Adjusted for rounding differences. (a) Fill in the missing amounts for items [1] to (10]. Round all amounts to the nearest dollar. (b) What are the current and non-current portions of the loan at the end of the third annual period? Record mortgage payable. TT
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