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.

Year	Beginning Notes Payable	Interest Expense	Repaid Principal on Notes Payable	Ending Notes Payable
1	42,000	2,100	9,744	32,256
2	32,256	1,613	10,231	22,025
3	22,025	1,101	10,743	11,282
4	11,282	564	11,282	0
Total		5,378	42,000

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); (c) the note payable balance at January 1, 2024; and (d) the total interest and total principal paid over the notes entire life

(a) Annual Payment
(b) Interest Expense
(c) Notes Payable
(d-1) Total Interest
(d-2) Total Principal