The following amortization schedule indicates the interest and principal that Chips 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. Use the amortization schedule to prepare CCCs required journal entries on (a) January 1, 2021; (b) December 31, 2021; (c) December 31, 2022; (d) December 31, 2023; and (e) December 31, 2024. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

Year	Beginning Note Payable	Interest Expense	Repaid Principal on Note Payable	Ending Note Payable
1	39,000	2,730	8,784	30,216
2	30,216	2,115	9,399	20,817
3	20,817	1,457	10,057	10,760
4	10,760	753	10,760	0
Total		7,055	39,000