1 On January 1st, 2018, the company DECORA, SA acquires a machine, useful life 5 years for a purchase price 25.000 eur. In payment, the company issues an installment note payable for this amount, plus interests at 12 percent per annum (or 1 percent per month). This note will be paid in 5 monthly installments of 5.151 eur, beginning on January 1st. You can see the amortization table allocating payments between interest and principal below. Period Payment Date Monthly Payment Interest expense Reduction in Unpaid Balance Total amortized amount 1 January 5.151 250 4.901 4.901 2 February 5.151 201 4.950 9.851 3 March 5.151 151 5.000 14.851 April May 5.151 101 5.050 19.900 5.151 51 5.100 25.000 1. From the table indicate the total amount of interests paid over the 5 installments 2. Prepare the journal entry to record the first monthly payment January 1st 3. Indicate the liability amount on March 31 that will appear in the Balance Sheet