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On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $100,000 face...

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Accounting

On January 1, 2018, Brown Co. borrowed cash from First Bank byissuing a $100,000 face value, four-year term note that had an 8percent annual interest rate. The note is to be repaid by makingannual cash payments of $30,192 that include both interest andprincipal on December 31 of each year. Brown used the proceeds fromthe loan to purchase land that generated rental revenues of $52,000cash per year.

Organize the information in accounts under an accountingequation. (Round your answers to the nearest whole dollaramount. Enter any decreases to account balances with a minus sign.Select "NA" if there is no effect on the "Accounts Titles /Retained Earnings".)

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