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  3. on january 1, year 1, beatie company borrowed $240

On January 1, Year 1, Beatie Company borrowed $240,000 cash from...

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Accounting

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On January 1, Year 1, Beatie Company borrowed $240,000 cash from Central Bank by issuing a frve-year, 6 percent note. The principal and interest are to be paid by making annual payments in the ampunt or $56,975. Payments are to be mode December 31 of each year, beginning December 31, Year 1 Required Prepare on amortzation schedule for the inferest and principal payments for the five-year period. Note: Round your answers to the nearest dollor amount

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