e11 14 kaiser company s partial amortization schedule follows 509383

Kaiser Company s partial amortization schedule follows:

Payment NumberDatePaymentInterest Expense (Principal X 6% X 1/12)PrincipalMortgage Balance

Loan1/1/2013 $500,000.00

11/31/2013 3,597.30 2,500.00 1,097.30 498,902.70

22/28/2013 3,597.30 2,494.51 1,102.79 497,799.91

33/31/2013 3,597.30 2,489.00 1,108.30 496,691.61

44/30/2013 3,597.30 2,483.46 1,113.84 495,577.77

55/31/2013 3,597.30 2,477.89 1,119.41 494,458.36

66/30/2013 3,597.30 2,472.29 1,125.01 493,333.35

77/31/2013 3,597.30 2,466.67 1,130.63 492,202.72

88/31/2013 3,597.30 2,461.01 1,136.29 491,066.43

99/30/2013 3,597.30 2,455.33 1,141.97 489,924.46

1010/31/2013 3,597.30 2,449.62 1,147.68 488,776.78

1111/30/2013 3,597.30 2,443.88 1,153.42 487,623.36

1212/31/2013 3,597.30 2,438.12 1,159.18 486,464.18

2013 totals 43,167.60 29,631.78 13,535.82

Requirements

1. Journalize the note issuance and the reclassification of the current portion on January 1, 2013 (explanations are not required).

2. What is the balance in Estimated warranty payable?

3. Journalize the second payment on February 28, 2013 (do not round).