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The following amortization schedule indicates the interest and principal that Chip's Cookie Corporation (CCC) must repay on an installment note established January 1, 2021. CCC

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The following amortization schedule indicates the interest and principal that Chip's Cookie Corporation (CCC) must repay on an installment note established January 1, 2021. CCC has a December 31 year-end and makes the required annual payments on December 31 Repaid Beginning Note Interest Principal on Year Ending Note Payable Expense Note Payable Payable 1 30,000 1,500 6,960 23, 840 2 23,040 1,152 7,308 3 15,732 15,732 787 7,673 4 8,059 8,059 401 8,059 Total 3,840 30,000 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, 2021 (Year 1)(a) the note payable balance at January 1, 2024 and (c) the total interest and total principal paid over the note's entire life. (Round your answers to the nearest whole dollar amount.) (a) Annual Payment (b) Interest Expense (c) Notes Payable (d-1) Total Interest (d-2) Total Principal

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