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Business, 27.05.2020 19:01 Reese8693

On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $79,000 face value, four-year term note that had an 4 percent annual interest rate. The note is to be repaid by making annual cash payments of $21,764 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $37,920 cash per year. Problem 10-26 Part a Required a. Prepare an amortization schedule for the four-year period

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On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $79,000 face value, four-...
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