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Problem Two: On January 1,2022, Swansea Corporation borrowed $15,000 for 5 years at 4% interest....

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Accounting

Problem Two: On January 1,2022, Swansea Corporation borrowed $15,000 for 5 years at 4% interest. The loan requires monthly payments of $276.25(round computations to the nearest PENNY).
Complete the amortization schedule for this loan.
\table[[,,,,],[Date,Cash Payment,Interest Expense,Reduction to Carry Value,],[11?22,,,,],[21?22,,,,],[31?22,,,,],[41?22,,,,]]
Provide the journal entry to record loan at inception.
\table[[Date,A,L,SE,R,E,NI,CF,Account,DR,CR],[11?22,,,,,,,,,,]]
Provide the journal entry to record payment at 21?22.
\table[[Date,A,L,SE,R,E,NI,CF,Account,],[21?22,,,,,,,,,],[,,,,,,,,,]]
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