On March $31,2022,$ Showcase Company issued a $ $485$ comma $000,6\%,3-$year note payable when the market rate was $8\%.$ Interest is due on each March $31,$ beginning March $31,2023.$ The$$ company's fiscal year ends on December $31.$

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Part $1$

Requirement a$.$ Prepare the journal entry to record the issuance of the note payable. $($Use the present value and future value$$ tables, a financial$$ calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula$$ method, use factor amounts rounded to five decimal$$ places, X$.$XXXXX$.$ Round your final answers to the nearest whole dollar. Record debits$$ first, then credits. Exclude explanations from any journal$$ entries.$)$

Account

March $31,2022$

Part $2$

Requirement b$.$ Prepare an amortization table. $($Round each calculation to the nearest whole number and then use the rounded value for each subsequent calculation in the$$ table.$)$

Cash

Effective

Discount$/$Premium

Carrying

Date

Interest

Interest

Amortization

Value

March $31,2022$

March $31,2023$

March $31,2024$

March $31,2025$

Part $3$

Requirement c$.$ Prepare the journal entry to record interest expense at December $31,2022.($Round your answers to the nearest whole dollar. Record debits$$ first, then credits. Exclude explanations from any journal$$ entries.$)$

Account

December $31,2022$

Part $4$

Requirement d$.$ Prepare the journal entry required on March $31,2023.($Round your answers to the nearest whole dollar. Record debits$$ first, then credits. Exclude explanations from any journal$$ entries.$)$

Account

March $31,2023$