On January 1st, 2021, Crushed and Crooked Ice Makers, Inc. issued a $30,000, five-year note receivable to Coolio Corporation. The stated rate of interest on this note is 6% but the market rate of interest at the time of issuance was 8%. Coolio will make interest payments on the note every December 31st, and Crushed and Crooked Ice Makers, Inc. will amortize any discount (or premium) on the note using the effective-interest method. Determine the fair value of the note Present Value of Principal Add: PV of Interest Fair Value of Note Prepare the amortization table for this note Interest Revenue Amortized Discount Cash Received Date of Issue (1-1-21) End of Year 1 (12-31-21) End of Year 2 (12-31-22) End of Year 3 (12-31-23) End of Year 4 (12-31-24) End of Year 5 (12-31-25) Total Record the January 1st, 2021 journal entry for the issuance of the note Carrying Amount Record the December 31st, 2021 journal entry for the receipt of interest from Coolio Bonus: Assume that Coolio will repay the principal owed on the note when it makes its final interest payment on December 31st, 2025. Record Crushed and Crooked Ice Makers' journal entry for the receipt of the final interest payment plus the repayment of the note's principal from Coolio.