Cowboy Ice Cream Company issued a note payable on January 1 Year 1 Below you will find a partial amortization schedule for the 5- year note payable Accounting principal Cash Period Applied to Balance January 1 Applied to Bayment Interest Principal Year 1 $100,000 $26.481 19,220 517,211 Vear 2 35,70 26.41 7./21 13,60 Year 67,029 26,41 6,031 30,4411 Required a. Using a financial statements model like the one shown, record the appropriate amounts for the following two events (1) January 1 Year 1 issue of the note payable. (2) December 31, Year 1. payment on the note payable. b. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required 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. Not all cells will require entry) Biot Help Required A Required 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. Not all cells will require entry) (1) January 1, Year 1, issue of the note payable. (2) December 31, Year 1, payment on the note payable. Show less COWBOY ICE CREAM COMPANY Horizontal Statements Model Balance Sheet Income Statement Stockholder's Liabilities Revenue Expense = Net Income Equity Event No. Assets = Statement of Cash Flow 1. 2. Requited A Required B > 57,029 1981 26,481 2 6,033 10, 20,448 Required a. Using a financial statements model like the one shown, record the appropriate amounts for the following two events (1) January 1 Year 1, Issue of the note payable (2) December 31 Year 1. payment on the note payable b. What is the amount of interest expense on this loan for Year 42 Complete this question by entering your answers in the tabs below. Required A Required B What is the amount of interest expense on this loan for Year 4? (Round your answers to the nearest whole dollar amount.) Interest expense