The following amortization schedule indicates the interest and principal that Chip's Cookie Corporation (CCC) must repay on an installment note established January 1, 2018. CCC has a December 31 year-end and makes the required annual payments on December 31. Ending Note Year Beginning Note: Payable. Interest Expense Repaid Principal on Note Payable 1 10,000 600 2,286 2 7,714 463 2,423 3 5,291 317 2,569 .4 2,722 Total 1631 1,543 2,722 10,000 Payable 7,714 5,291 2,722 0 Use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of interest expense to report in the year ended December 31, 2018 (Year 1); (c) the note payable balance at January 1, 2021; and (d) the total interest and total principal paid over the note's entire life. (Round your answers to the nearest whole dollar amount Answer is complete but not entirely correct. (a) Annual Payment $ 2,886 Interest (b) $ 150 Expense (c) Notes Payable $ 566 (d- Total Interest $ 1,543 1) (d- Total Principal $ 10,000 2) < Prev 2 of 6 Next >