On December 31, 2020, Blue Company signed a $1,049,400 note to Kingbird Bank. The market interest rate at that time was 10%. The stated interest rate on the note was 8%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Blues financial situation worsened. On December 31, 2022, Kingbird Bank determined that it was probable that the company would pay back only $629,640 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,049,400 loan.

the amount of cash Blue received from the loan on December 31, 2020 is $969,837

Prepare a note amortization schedule for Kingbird Bank up to December 31, 2022. (Round answers to 0 decimal places, e.g. 5,275.) Note Amortization Schedule (Before Impairment) Cash Received Interest Revenue Increase in Carrying Amount Carrying Amount of Note $ 83952 $ 83952 e Textbook and Media