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QUESTION
On January 1, 2010, the Bella Company borrowed $10,000 from the Forks Bank, issuing a three-year, 6% note payable. Payments of $3,741 are to be made...
On January 1, 2010, the Bella Company borrowed $10,000 from the Forks Bank, issuing a three-year, 6% note payable. Payments of $3,741 are to be made each year on December 31. The payment will include both the interest and a portion of the principal. Using the table below, prepare an amortization schedule for the note.
