On December 31, 2020,NashCompany signed a $1,186,300note toCraneBank. The market interest rate at that time was12%. The stated interest rate on the note was10%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales,Nash's financial situation worsened. On December 31, 2022,CraneBank determined that it was probable that the company would pay back only $711,780of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,186,300loan.

Amount of cashNashreceived from the loan is $1,100,776

How do I prepare a amortization schedule forCraneBank up to December 31, 2022

Cash Received Interest Increase in carrying Carry amount of note

revenue amount

12/31/20

12/31/21

12/31/22