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4 parts to the question thank you!! Exercise 7-10 Amortization of a long-term loan LO 7-5 [The following information applies to the questions displayed below.)

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Exercise 7-10 Amortization of a long-term loan LO 7-5 [The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Accounting Period 2018 2019 2020 Principal Balance January 1 $130,000 108,706 85,283 Cash Payment $34,294 34,294 34,294 A pplied to Interest $13,000 10,871 8,528 Applied to Principal $21, 294 23,423 25,766 Exercise 7-10 Part a Required a. What rate of interest is Mabry Company paying on the riote? Rate of interest [The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows Accounting Principal Cash Applied to Applied to Period Balance January 1 Payment Interest Principal 2018 $ 130, eee $34,294 $13.000 $21, 294 2019 108,706 34,294 10.871 23.423 2020 85,283 34,294 8,528 25,766 Exercise 7-10 Part b b. Using a financial statements model like the one shown, record the appropriate amounts for the following two events. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank.) (1) January 1, 2018, Issue of the note payable (2) December 31, 2018, payment on the note payable. MABRY COMPANY Horizontal Statements Model Income Statement Stockholder's Revenue - Expense Net Income Equity Balance Sheet Event NO. Statement of Cash Flow Assets Liabilities + Exercise 7-10 Amortization of a long-term loan LO 7-5 [The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Accounting Principal Cash Applied to Applied to Period Balance January 1 Payment Interest Principal 2018 $130,000 $34,294 $13, eee $21,294 108,706 34,294 10,871 23,423 2020 85.283 34.294 8,528 25,766 2019 Exercise 7-10 Part 6 C. If the company earned $99,700 cash revenue and paid $59,820 in cash expenses in addition to the interest in 2018. What is the amount of each of the following? (Cash outflows should be indicated with a minus sign.) (1) Net income for 2018 (2) Cash flow from operating activities for 2018 (3) Cash flow from financing activities for 2018 Exercise 7-10 Amortization of a long-term loan LO 7-5 [The following information applies to the questions displayed below. A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Accounting Period 2018 2019 2020 Principal Balance January 1 $130,000 108,706 85,283 Cash Payment $34,294 34,294 34,294 Applied to Interest $13,000 10.971 8,528 Applied to Principal $21, 294 23,423 25,766 Exercise 7-10 Part d d. What is the amount of interest expense on this loan for 2021? (Round your answers to the nearest whole dollar amount.) Interest expense

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