On December 31, 2025, Blue Inc. rendered services to Beghun Corporation at an agreed price of $106,641, accepting $41,800 down and agreeing to accept the balance in four equal installments of $20,900 receivable each December 31. An assumed interest rate of 11% is imputed. (a1) Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to O decimal places, e.g. 5,275.)

On December 31, 2025, Blue Inc. rendered services to Beghun Corporation at an agreed price of $106,641, accepting $41,800 down and agreeing to accept the balance in four equal installments of $20,900 receivable each December 31. An assumed interest rate of 11% is imputed. (a1) Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to O decimal places, e.g. 5,275.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...

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