On January 1,2016,the Hawks Company borrowed $100,000 from the Community Bank,issuing a three-year,8% note payable.Payments of $38,803.35 are to be made each year on December 31.The payment will include both the interest and a portion of the principal.Using the table below,prepare an amortization schedule for the note.

Question

On January 1,2016,the Hawks Company borrowed $100,000 from the Community Bank,issuing a three-year,8% note payable.Payments of $38,803.35 are to be made each year on December 31.The payment will include both the interest and a portion of the principal.Using the table below,prepare an amortization schedule for the note.
On January 1,2016,the Hawks Company borrowed $100,000 from the Community Bank,issuing a three-year,8% note payable.Payments of $38,803.35 are to be made each year on December 31.The payment will include both the interest and a portion of the principal.Using the table below,prepare an amortization schedule for the note.

Quizplus · Accepted Answer

The Answer of On January 1,2016,the Hawks Company borrowed $100,000 from the Community Bank,issuing a three-year,8% note payable.Payments of $38,803.35 are to be made each year on December 31.The payment will include both the interest and a portion of the principal.Using the table below,prepare an amortization schedule for the note.

On January 1,2016,the Hawks Company Borrowed $100,000 from the Community