CC15 COOKIE CREATIONS
(a)
(A)
(B)
(C)
(D)
Interest
Period
Cash
Payment
Interest
Expense
Reduction of
Principal
Principal
Balance
(B) + (C)
(D) X 5% X 6/12
($2,000 every 6 mo.)
(D) – (C)
Nov. 2017
$12,000
May 2018
$ 2,300
$ 300
$ 2,000
$10,000
Nov. 2018
$ 8,000
May 2019
$ 6,000
Nov. 2019
$ 4,000
May 2020
$ 2,000
Nov. 2020
2,050
$ 0
CC15 (Continued)
(b) Nov. 1 Equipment …………………………………. 17,000
Cash ……………………………………… 5,000
Notes Payable ………………………… 12,000
(c)
2018
(d)
Current portion* $ 4,000