On December 31, 2020, Larkspur Company signed a $1,278,400 note Cullumber 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, Larkspur's financial situation worsened. On December 31, 2022, Cullumber Bank determined that it was probable that the company would pay back only $767,040 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,278,400 loan. Determine the amount of cash Larkspur received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to 0 decimal places, e.g. 5,275.) Amount of cash Larkspur received from the loan $ e Textbook and Media Prepare a note amortization schedule for Cullumber 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 Carryi Amoun Note Date 12/31/20 $ 12/31/21 $ $ $ 12/31/22 e Textbook and Media Determine the loss on impairment that Cullumber Bank should recognize on December 31, 2022. (Round present value factors to 5 decimal places, e.g. 0.52500 and final answer to 0 decimal places, e.g. 5,275.) Loss due to impairment $

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