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Bridgeport Company signed a $1, 038, 100 note to Indigo Bank. The market interest rate at that time was 11%. The stated interest rate on

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Bridgeport Company signed a $1, 038, 100 note to Indigo Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Bridgeport's financial situation worsened. On December 31, 2019, Indigo Bank determined that it was probable that the company would pay back only $622, 860 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1, 038, 100 loan. Determine the amount of cash Bridgeport received from the loan on December 31, 2017. Prepare a note amortization schedule for Indigo Bank up to December 31, 2019

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