Business, 06.08.2019 20:10 peytontanner
This problem has been solved! see the answertony’s favorite memories of his childhood were the times he spent with his dad at camp. tony was daydreaming of those days a bit as he and suzie jogged along a nature trail and came across a wonderful piece of property for sale. he turned to suzie and said, “i’ve always wanted to start a camp where families could get away and spend some quality time together. if we just had the money, i know this would be the perfect place.” they called several banks and on january 1, 2020, great adventures obtained a $560,000, 6%, 10-year installment loan from summit bank. payments of $6,217 are required at the end of each month over the life of the 10-year loan. each monthly payment of $6,217 includes both interest expense and principal payments (i. e., reduction of the loan amount). late that night tony exclaimed, “$560,000 for our new camp, this has to be the best news ever.” suzie snuggled close and said, “there’s something else i need to tell you, tony, i’m expecting! ” they decided right then, if it was a boy, they would name him venture. required: 1. complete the first three rows of an amortization table. date cash paid interest expense decrease in carrying value carrying value01/01/2020 01/31/2020 02/28/2020 2. record the note payable on january 1, 2020, and the first two payments on january 31, 2020, and february 28, 2020. (if no entry is required for a particular transaction, select "no journal entry required" in the first account field.)record the issuance of note payable. record the monthly payment. record the monthly payment
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