Complete the amortization table for first three loan payment


On September 1, Sheehan Inc. signed a 5.5% mortgage (installment) note for $340,000. The monthly payment of $2,000 is due on the last day of each month. Complete the amortization table for the first three loan payments. When required, round your answers to nearest cent.

Amortization Table
Payment Date Unpaid Balance at Beginning of Month Monthly Payment Interest Expense Reduction in Principal of Debt Unpaid Balance at End of Period
Sep. 30 $ $ $ $ $
Oct. 31
Nov. 30

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Accounting Basics: Complete the amortization table for first three loan payment
Reference No:- TGS0556567

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