149. On January 1, 2016, the Hawks Company borrowed $100,000 from the Community Bank, issuing a three-year, 8% note payable. Payments of $38,803.35 are to be made each year on December 31. The payment...

149. On January 1, 2016, the Hawks Company borrowed $100,000 from the Community Bank, issuing a three-year, 8% note payable. Payments of $38,803.35 are to be made each year on December 31. The payment will include both the interest and a portion of the principal. Using the table below, prepare an amortization schedule for the note.

150. On March 27, 2016, Larner Corp. signed an agreement for a line of credit with the Wilmington Bank. Under the agreement, Larner can borrow up to $75,000 at any time during the following year. Larner will make any borrowings or paybacks on the first day of a month and make interest payments on the last day of any month when a balance exists. The annual interest rate will be the bank's prime rate plus 2% and will be applied to the outstanding monthly balance. The following table gives the appropriate information for April, May, and June of 2016.