22) Gross pay is: A) The amount of the paycheck. B) Take-home pay C) Total compensation earned by an employee before any deductions. D) Deductions withheld by an employer E) Salaries after taxes are deducted. 23) If a company has advance ticket sales totaling s2,000,000 for the upcoming football season, the receipt of cash would be journalized as: A) Debit Cash, credit Ticket sales payable. B) Debit Sales, credit Unearned Revenue. C) Debit Unearned Revenue, credit Sales. D) Debit Cash, credit Unearned Revenue E) Debit Unearned Revenue, credit Cash. Short Problem A company purchased two new delivery vans for a total of $420,000 on January 1, Year 1. The company signed a $420,000, 3-year, 8% note for the purchase of the new delivery vans. The note is to be paid in three annual end-of-year payments of $162,974 each, with the first payment on December 31, Year l. Each payment includes interest on the unpaid balance plus principal. Prepare a note amortization table to answer the following questions. (Note: You may use any format you desire, if you don't like the one below.) Cash Payment Amount allocated Amount Allocated Outstanding To Interest Exp. To Principal Balance Note Payable $420,000 Date 1/1/ Year 1 12/31/Year 1 12/31/Year 2 12/31/Year 3 Using your preferred format for an amortization table, answer the following questions. 24. On the first payment (12/31/Year 1), what amount is allocated to interest expense? outstanding balance? $ 26. After the third payment, what is the outstanding balance on the note payable? $ 25. On the second payment (12/31/Year 2), what amount is allocated to principal reduction of the note payable