Reference no: EM132807649

Cucina Corporations signed a new installment deposited the proceeds of $58,000 in its bank account . The note has 3 year term compounds 5,percent interest annually and requires an annual interest installment payment December 31. Cucina Corp has a December 31 year end and adjusts its accounts only at year -end

problem 1. Use an online application such as the loan calculator to generate armortization schedule Enter that information into an amortization schedule with the following headings Year , beginning Notes Payable, Interest Expense , Repaid Principal on Notes Payable and ending Notes Payable.

problem 2. Prepare the journal entries on a January 1, 2018 and December 31 of 2018, 2019 and (2020 )

problem 3. If Cucina corps year end we're March 31 rather than December 31 prepare the adjusting journal entry would it make for this note on 2018.