On January 1, 2013, the Hawthorne Company borrowed $25,000 from the Columbus Bank, issuing a three-year, 8% note payable. Payments of $9,700.84 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.

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The Answer of On January 1, 2013, the Hawthorne Company borrowed $25,000 from the Columbus Bank, issuing a three-year, 8% note payable. Payments of $9,700.84 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, 2013, the Hawthorne Company Borrowed $25,000 from the Columbus