Business, 05.06.2020 21:00, yadirachavez2002

On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $100,000 face value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,192 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 $52,000 cash per year. Prepare an amortization schedule for the four-year period.

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On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $100,000 face value, four-y...