A Company Purchased Two New Trucks for a Total of $250,000

A company purchased two new trucks for a total of $250,000 on January 1, 2009. The company paid $40,000 cash and gave a $210,000, 3-year, 8% note for the remaining balance. The note is to be paid in three annual end-of-year payments beginning December 31, 2009. Assume the annual installment payments are to consist of equal amounts of principal plus accrued interest. Prepare a note amortization table using the format below.
$$\begin{array} { | l | c | c | c | c | c | } \hline \begin{array} { c } \text { Period } \\\text { Ending Date }\end{array} & \begin{array} { c } \text { Beginning } \\\text { Balance }\end{array} & \begin{array} { c } \text { Debit Interest } \\\text { Expense }\end{array} & \begin{array} { c } \text { Debit Notes } \\\text { Payable }\end{array} & \text { Credit Cash } & \begin{array} { c } \text { Ending } \\\text { Balance }\end{array} \\\hline 12 / 31 / 09 & & & & & \\\hline 12 / 31 / 10 & & & & & \\\hline 12 / 31 / 11 & & & & & \\\hline\end{array}$$ 12/31/09: Interest Expense: $210,000 x 8% = $16,800
12/31/10: Interest Expense: $140,000 x 8% = $11,200
12/31/11: Interest Expense: $70,000 x 8% = $5,600