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Required information [The following information applies to the questions displayed below.] On...

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Accounting

Required information
[The following information applies to the questions displayed below.]
On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $100,000 face-value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,192 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $52,000 cash per year.
Required
a. Prepare an amortization schedule for the four-year period. (Round intermediate calculations to nearest dollar amount. Round your answers to the nearest dollar amount.)
\table[[BROWN COMPANY],[Amortization Schedule],[$100,000,4-Year Term Note, 8% Interest Rate],[Year,\table[[Principal],[Balance],[on January 1]],\table[[Cash Payment],[December 31]],\table[[Applied to],[Interest]],\table[[Applied to],[Principal]],\table[[Principal],[Balance],[End of Period]]],[Year 1],[Year 2],[Year 3],[Year 4,,,,,]]
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