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for year end 2020-2023 On December 31, 2020, Oriole Inc. rendered services to...

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Accounting

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On December 31, 2020, Oriole Inc. rendered services to Beghun Corporation at an agreed price of $103,397, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 10% is imputed. Prepare an amortization schedule. Assume that the effective interest method is used for amortization purposes. (Round answers to decimal places, eg. 5,275.) December 31, 2020 Schedule of Note Discount Amortization Interest Discount Revenue Amortized Carrying Amount of Note Cash Received Date 12/31/20 $ 12/31/21 12/31/22 12/31/23 12/31/24 List of Accounts @^* a way Lab Elci03 e NEW of C Prepare the entries that would be recorded by Oriole Inc. for the sale on December 31, 2020. (Round answers to decimal places 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

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