02:24:08 eBook eferences The following amortization schedule indicates the interest and principal to be repaid on an installment note established January 1, 2021, for a company with a March 31 fiscal year-end. Period 1/1-12/31, Year 1 1/1-12/31, Year 2 1/1-12/31, Year 3 1/1-12/31, Year 4 Total Required: Beginning Notes Payable $ 20,000 15,360 10,488 5,372 Interest Expense $ 1,000 768 524 269 2,561 1. Assuming the company makes the required annual payments on December 31, use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life Required 1 Required 2 2. Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. Complete this question by entering your answers in the tabs below. (a) Annual Payment (b) Interest Expense March 31, 2021 val Internet Eunonen March 21 2022 Repaid Principal Ending Notes on Notes Payable Payable $ 15,360 $ 4,640 4,872 5,116 10,488 5,372 0 5,372 20,000 Assuming the company makes the required annual payments on December 31, use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life. (Round your answers to the nearest whole dollar amount.) $ 5,640 Show less A

The following amortization schedule indicates the interest and principal to be repaid on an instaliment note established January 1 , 2021 , for a company with a March 31 fiscal year-end. Required: 1. Assuming the company makes the required annual payments on December 31 , use the amortization schedule to determine (a) the amount of the (founded) annual payment: (b) the amount of Interest Expense to report in the year ended March 31, 2021; ( d ) the omount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (c) the total interest and total principal paid over the note's entire life 2. Assuming the compary makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1,2021 , and (b) March 31, 2021 . Complete this question by entering your answers in the tabs below. Assuming the company makes the required annual payments on December 31, use the amortization schedule to determine (a) the arnount of the (rounded) annual parment; (b) the amount of Interest Expense to report in the year ended March 31 . 20211 ( c ) the amount of interest Expense to report in the vear ended March 31, 2022; ( d ) the Notes Payabie balance at January 1, 2024; and (e) the total interest and total principal paid over the notes entire life. (Round your answers to the nearest whole dollar amount) The following amortization schedule indicates the interest and principal to be repaid on an installment note established January 1 , 2021, for a company with a March 31 fiscal year-end. Required: 1. Assuming the company makes the required annual payments on December 31 , use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (c) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life 2. Assuming the company makes.adjustments at the end of each fiscal year, prepare the journal entries required on (o) January 1, 2021. and (b) March 31, 2021. Complete this question by entering your answers in the tabs below. Assuming the company makes the required annual payments on December 31 , use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended Morch 31 , 2021 : (c) the amount of Interest Expense to report in the year ended March 31, 2022: (d) the Notes Payable balance at. January 1,2024; and (e) the total interest and total principal paid over the note's entire life. (Round your answern to the nearest whole doliar amount, Complete this question by entering your answers in the tabs below. Assuming the company makes the required annual payments on December 31 , use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended March 31 , 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life. (Round your answers to the nearest whole dollar amount.) Journal entry worksheet