THE ANSWERS IN BRACKETS ARE CORRECT. PLEASE EXPLAIN HOW TO FIND THEM, STEP BY STEP

On January 1, 20X1 a company lent money to a supplier in exchange for a non- interest-bearing note receivable with a maturity or face value of $10,000. The note matures in 5 years on December 31, 20X2 and the company has a December 31 year-end. The market interest rate is 6%. In the blank boxes below, please provide the required amounts indicated in the following order (when entering amounts please do not use commas, negative signs or dollar signs or cents). Blank 1: The amount of cash that will be lent to the supplier on January 1, 20X1 (round to the nearest dollar) Blank 2: The amount of interest income that the company will report for 20X1 if it uses the effective interest rate method (round to the nearest dollar) Answer for blank # 1: X (7473) Answer for blank # 2: * (448)