On December 31, 2020, Shamrock Company signed a $1,186,300 note to Bridgeport Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Shamrocks financial situation worsened. On December 31, 2022, Bridgeport Bank determined that it was probable that the company would pay back only $711,780 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,186,300 loan.

Determine the amount of cash Shamrock received from the loan on December 31, 2020.

Amount of cash Shamrock received from the loan $ [ ]

Prepare a note amortization schedule for Bridgeport Bank up to December 31, 2022. (Round answers to 0 decimal places, e.g. 5,275.)

Note Amortization Schedule (Before Impairment)
Date		Cash Received		Interest Revenue		Increase in Carrying Amount		Carrying Amount of Note
12/31/20								$ [ ]
12/31/21		$ [ ]		$ [ ]		$ [ ]		$[ ]
12/31/22		$[ ]		$[ ]		$[ ]		$[ ]

Determine the loss on impairment that Bridgeport 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 $ [ ]