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Are these answers correct? Required information [The following information applies to the questions displayed below.] A partial amortization schedule for a 5-year note payable that

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Required information [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 $103,000 85,089 65,924 Cash Payment $ 25, 121 25, 121 25, 121 Applied to Interest $7,210 5,956 4,615 Applied to Principal $17,911 19,165 20,506 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. Event No. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Stockholder's Liabilities Revenue Expense = Net Income Equity 103,000 + (17,911) 7,210 7,210 (7,210) Statement of Cash Flow Assets 1. 103,000/= (25, 121) 103,000 FA (25,121) FA 2. Required information [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 $ 103,000 85,089 65,924 Cash Payment $25,121 25,121 25, 121 Applied to Interest $7,210 5,956 4,615 Applied to Principal $17,911 19,165 20,506 d. What is the amount of interest expense on this loan for 2021? (Round your answers to the nearest whole dollar amount.) Interest expense $ 3,179

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