On December 31, 2020, Pearl Company signed a $1,278,400 note to Martinez 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, Pearl's financial situation worsened. On December 31, 2022, Martinez 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. (a) Your Answer Correct Answer Your answer is correct. Determine the amount of cash Pearl received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to O decimal places, e.g. 5,275.) Amount of cash Pearl received from the loan CA 1181476 (b) Prepare a note amortization schedule for Martinez Bank up to December 31, 2022. (Round answers to O decimal places, e.g. 5,275.) Note Amortization Schedule (Before Impairment) Date Cash Received Interest Revenue /31/20 /31/21 $ /31/22 eTextbook and Media +A $ +A $ Increase in Carrying Amount Carrying Amount of Note CA $