Question

i need help filling this chart in

On January 1, 2019. Eagle Company borrows $23,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $7,099, consisting of accrued interest and principal on December 31 of each year from 2019 through 2022 Prepare an amortization table for this installment note. (Round all amounts to the nearest whole dollar.) Payments (C) Debit interest Debit Notes Expense Payable (B) (A) Beginning Balance Period Ending Date 2019 Credit Cash (E) Ending Balance 2020 2021 2022 Total

Answer 1

	(A)	(B)	(C)	(D)	(E)
Period Ending Date	Beginning Balance ($)	Debit Interest Expense ($)	Debit Notes Payable ($)	Credit Cash ($)	Ending Balance ($)
		9% of (A)	(D) - (B)		(A) - (C)
2019	23000	2070	5029	7099	17971
2020	17971	1617	5482	7099	12489
2021	12489	1124	5975	7099	6514
2022	6514	585	6514	7099	0
Total		5396		28396