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Question - On January 1 of year 1, Banamex approved a loan to Mercantil S.A. for $ 900.00 for a term of 3 years with fixed installments, payable semi-annually, at an interest rate of 7% per past six-month period.
1. Determine the amount of the semi-annual amortization?
2. Create the amortization table?
3. Prepare the budget card for year 2?
4. Within the structure of the budgeted income statement, where is interest reflected?
5. Leonardo Sánchez is responsible for preparing the financing budget for the company Mercantil S.A. What time is it most advisable for your operation? Justify your answer.
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
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