On January 1, Year 1 Mary Mayle begain operations of her business. On that date, she agreed to a 10-year installment notes payable with a face value of $200,000 with First Bank of Philadelphia. Annual payments of $27,173.50 are to be made at December 31st each year, which include 6% rate of interest 1 Create an amortization shedule for the note payable Interest rate 1/1 Principle Balance Cash Payment Applied to Interest Applied to Principle 12/31 Principle Balance Accounting Period Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total $ $ $ 2 What portion of the December 31, Year 1 payment is applied to interest expense 3 What portion of the December 21, Year 1 payment is applied to principle? 4 What is the principle balance on January 1, Year 2? 5 What portion of the December 31, Year 2 payment is applied to interest expense 6 What portion of the December 31, Year 2 payment is applied to principle