On December 31, 2012, Barker Inc. provided consulting services to Carr Company at an agreed price of $151,121. Barker accepted $60,000 down and agreed to accept the balance in four equal installments of $30,000 to be received each December 31, beginning December 31, 2013. An assumed interest rate of 12% is imputed.
Instructions:Using Excel, prepare the amortization schedule and then record all required journal entries that would be made by Barker on the following dates (a) December 31, 2012; (b) December 31, 2013; (c) December 31, 2014; (d) December 31, 2015; and (e) December 31, 2016.
You will be assessed on the following skills:
(1) correct data entered,
(2) correct and accessible formulas,
(3) column headings and labels,
(4) titles merged and centered, and
(5) spreadsheet formatting and printing.
Each student must submit the completed spreadsheet to me by email
Include the following in the subject line of your email: ACC3300 Excel Project Fall 2013, Your Name
Failure to use the appropriate subject line in the email will result in grade reduction of 1 letter grade.