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Required information (The following information applies to the questions displayed below) A partial amortization schedule for a 5-year note payable that Mabry Company issued on
Required information (The following information applies to the questions displayed below) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows Accounting Period 2018 2019 Principal Balance January 1 $127.000 105.279 82.648 Cash Payment $32,651 32.651 32,651 Applied to Interest $11.430 9.520 7,438 Applied to Principal $21,221 23.131 25.213 2020 b. Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA). Investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank.) b. Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank.) (1) January 1, 2018, issue of the note payable. (2) December 31, 2018, payment on the note payable. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Liabilities + Stockholders Revenue - Expense - Net Income Equity Event Statement of Cash Flow No. Assets Required information (The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Accounting Period 2018 2019 2020 Principal Balance January 1 $127.000 105,779 82,648 Cash Payment $32,651 32,651 32,651 Applied to Interest $11.430 9.520 7,438 Applied to Principal $21,221 23,131 25,213 d. What is the amount of interest expense on this loan for 2021? your answers to the nearest whole dollar amount.) Interest expense
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