On January 1, 2017, Foster Corporation issued a 2-year, non-interest-bearing, $4,000 note payable. Interest is payable each December 31 during the life of the note. When the note was issued, the market rate of interest was 6%. Complete the following amortization schedule:
$$\begin{array} { | l | l | l | l | }
\hline \text { Date } & \text { Interest Expense } & \text { Cash Payment } & \text { BalanceSheet Value } \
\hline 1 / 1 / 17 & & & \
\hline 12 / 31 / 17 & & & \
\hline 12 / 31 / 18 & & & \
\hline
\end{array}$$

Question

On January 1, 2017, Foster Corporation issued a 2-year, non-interest-bearing, $4,000 note payable. Interest is payable each December 31 during the life of the note. When the note was issued, the market rate of interest was 6%. Complete the following amortization schedule:
 $$\begin{array} { | l | l | l | l | } 
\hline \text { Date } & \text { Interest Expense } & \text { Cash Payment } & \text { BalanceSheet Value } \
\hline 1 / 1 / 17 & & & \
\hline 12 / 31 / 17 & & & \
\hline 12 / 31 / 18 & & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of On January 1, 2017, Foster Corporation issued a 2-year, non-interest-bearing, $4,000 note payable. Interest is payable each December 31 during the life of the note. When the note was issued, the market rate of interest was 6%. Complete the following amortization schedule:
 $$\begin{array} { | l | l | l | l | } 
\hline \text { Date } & \text { Interest Expense } & \text { Cash Payment } & \text { BalanceSheet Value } \
\hline 1 / 1 / 17 & & & \
\hline 12 / 31 / 17 & & & \
\hline 12 / 31 / 18 & & & \
\hline
\end{array}$$

On January 1, 2017, Foster Corporation Issued a 2-Year, Non-Interest-Bearing