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Part 1: Installments On January 1, 2022, JK Exercise Gear obtained a $200,000,3%,15-year loan from Family to help pay for start-up costs (i.e. rent, purchasing

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Part 1: Installments On January 1, 2022, JK Exercise Gear obtained a $200,000,3%,15-year loan from Family to help pay for start-up costs (i.e. rent, purchasing initial inventory, construction on rental unit). JK Exercise Gear is required to make monthly payments of $881 at the end of each month, including both interest expense and principal. 1. Complete the following portion of the interest amortization table. 2. What will be the carrying value of the loan on December 31,2036 after the last loan payment is made? 3. Record the journal entry for the issuance of the loan on January 1

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