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On December 31, 2020, Oakbrook Inc. rendered services to BeghunCorporation at an agreed price of $102,049, accepting $40,000 downand agreeing to accept the balance in four equal installments of$20,000 receivable each December 31. An assumed interest rate of11% is imputed.1. Instructions: Complete the note amortization table.DateCash ReceivedInterest RevenueDiscount AmortizationDiscount BalanceCarrying Value2. Instructions: Journalize the transactions for the noteorigination, interest recognition, and the note collection atmaturity.
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