On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $65,000 face value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $19,625 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $31,200 cash per year. Prepare an amortization schedule for the four-year period.

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yearprincipal balance jan 1cash payments dec 31applied to interestapplied to principalprincipal balance end of period
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1. the corporate form of business organization has an advantage over both the sole proprietorship and the general partnership in ease of 2. the corporate form of business organization has an advantage over both the sole proprietorship and the general partnership in external liability for business 3. a partnership is an association of two or more persons to carry on as co-owners a business for 4. any one partner may be held liable for the entire indebtedness of the 5. a limited partner is liable for the partnership debt only to the extent of her capital 6. a person may be a partner even though he has no authority to conduct the ordinary activities of the 7. a partner may withdraw his capital contribution without the consent of all the 8. when a partner sells his interest in the partnership, the buyer becomes a new 9.every partner owes a duty of good faith, fairness, and loyalty to the other 10. a partner who fails to use ordinary care and skill in discharging assigned duties will be personally liable to the partners for any resulting loss.