A2 1 2 3 4 2285545GEGEE567L9U A December 31 for five years. 15 12 Principal Dan Dayle started a business by issuing an $80,000 face-value note to First State Bank on January 1, Year 1. Required (Use cell references from the given information above to complete this question.) B 16 Principal balance C 14 b. What is the principal balance on January 1, Year 2? a. What portion of the December 31, Year 1, payment is applied to interest expense and principal? 20 Interest expense 21 Principal D E F c. What portion of the December 31, Year 2, payment is applied to interest expense and principal? H $80,000 8% 5 $20,037 K

1. Dan Dayle started a business by issuine an $80,000 foce-value note to First State Bark on January-1, Year 1 b c. D. E F c H $80.000 84 Required (Use ceil relerences from the given information above to complete this question.) - What portion of the December 31 , Yest 1 pavment is applied to merest expense and orincipol? 6. What is the princisibalance on danusry a year 2? 1)