On December 31,2025 , Vaughn inc. rendered services to Beghun Corporation at an agreed price...
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Accounting
On December 31,2025 , Vaughn inc. rendered services to Beghun Corporation at an agreed price of $124,077, accepting $48,000 down and agreeing to accept the balance in four equal installments of $24,000 receivable each December 31 . An assumed interest rate of 10% is imputed. (a1) Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to 0 decimal places, es. 5,275.)
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