A B C D E Instructions: On January 1, 2018, Doofenshmirtz Evil Inc. issued a 6-year note of $350,000 at 7% to First Bank of Danville. Payments of interest and principal are due annually on December 31st. Complete that table below. Facts: Type Principal 6-year note $350,000 7% 73,429 Interest Rate Annual Payment $ 0 Payment due on June 30th each year 1 12 Payment Date Beg. Balance Payment Interest Principal Ending Balance 13 January 1, 2018 $ 350,000 $ 350,000 14 December 31, 2018 $ 350,000 $ 73,429 + $ 350,000 15 December 31, 2019 $ 350,000 $ 73,429 $ 350,000 16 December 31, 2020 $ 350,000 $ 73,429 17 December 31, 2021 $ 350,000 $ 73,429 18 December 31, 2022 $ 350,000 $ 73,429 19 December 31, 2023 $ 350,000 $ 73,429 5555 $ 350,000 $ 350,000 $ 350,000 $ 350,000 There will be a 3 dollar rounding error. 20 21 22 23 Interest Expense from 1/1/20 to 12/31/20 24 Total Interest Expense for 2020 25 Total Interest Payable at 12/31/2020 $ 0 26 Accounts Receivable Inventory & COGS Depreciation Notes Payable