View Policies Current Attempt in Progress Oriole Inc. received a five-year bank loan bearing...

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Accounting

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Current Attempt in Progress
Oriole 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:
(a)
Fill in the missing amounts. (Round answers to 0 decimal places, e.g 2,345.)
st
d
Cash Payment
Interest Expense
Reduction of Principal
Principal Balance
ite
2.
$16,000
$11,408
54,192
3,793
41,985
13,061
2,025
14,949
1,051
14,949
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