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What are the missing amounts for the below amortization table, given the following information?
- A firm borrows $100,000 from a bank.
- The terms of the loan require the firm to make equal, yearly payments, at the end of each year, over the next five years.
- The bank charges 4% interest.
Cash
Interest
Principal
Adjustment
Balance
4%
100,000
4,000
18,463
81,537
2,493
19,969
42,367
1,695
20,768
21,599
864
0
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At the end of Ehlinger Department Store's fiscal year on December 31, 2012, these accounts appeared in its adjusted trial balance: Freight-In $ 7,200
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