on november 1 2011 leetch ltd borrows 400000 cash, Financial Accounting

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on november 1 2011 leetch ltd borrows 400000 cash

On November 1, 2011, Leetch Ltd. borrows $400,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note needs equal total payments every year on October 31

Required:

1. Compute the total amount of every installment payment.

2. Complete an amortization table for this installment note.

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Financial Accounting: on november 1 2011 leetch ltd borrows 400000 cash

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