On October Flatbush Corporation signed a year installment note in the amount of $ in conjunction with the purchase of equipment. This note is payable in equal monthly installments of $ which includes interest computed at an annual rate of The first monthly payment is made on November This note is fully amortizing over months.
Complete the amortization table for the first two payments by entering the correct dollar amounts in the blank spaces provided. In addition, answer the questions a through c below PLEASE ROUND ALL OF YOUR ANSWERS TO THE NEAREST DOLLAR:
tablePaymentMonthly,Interest,Repayment,UnpaidDatePayment,Expense,of Principal,BalanceIssuancecdots,cdots,$
