The following amortization schedule indicates the interest and principal to be repaid on an installment note established January 1, 2021, for a company with a March 31 fiscal year-end. Period 1/1-12/31, Year 1 1/1-12/31, Year 2 1/1-12/31, Year 3 1/1-12/31, Year 4 Total Beginning Notes Payable $ 16,000 12,449 8,614 4,473) Repaid Principal Interest Expense on Notes Payable $ 1,280 $ 3,551 996 3,835 689 4,141 358 3,323 4,473 16,000 Ending Notes Payable $ 12,449 8,614 4,473 Required: 1. Assuming the company makes the required annual payments on December 31, 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 March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022, (d) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life 2. Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the company makes the required annual payments on December 31, 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 March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) 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 March 31, 2021 (c) Interest Expense March 31, 2022 (d) Notes Payable January 1, 2024 (e) Total Interest (e) Total Principal Show less A Pray 8 of 16 Naut The following amortization schedule indicates the interest and principal to be repaid on an installment note established January 1, 2021, for a company with a March 31 fiscal year-end. Period 1/1-12/31, Year 1 1/1-12/31, Year 2 1/1-12/31, Year 3 1/1-12/31, Year 4 Total Required: Beginning Notes Payable $ 16,000 12,449 8,614 Repaid Principal Interest Expense on Notes Payable. $1,280 996 $3,551 3,835 689 4,141 4,473 358 3,323 4,473 16,000 Ending Notes Payable $ 12,449 8,614 4,473 1. Assuming the company makes the required annual payments on December 31, 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 March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) the total interest and total principal paid over the note's entire life 2. Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 2 Record the entry on January 1, 2021. S Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 Record the entry on January 1, 2021. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry Clear entry View general journal hces Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. De not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 Record the entry on March 31, 2021. Note: Enter debits before credits. Transaction (b) General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Assuming the company makes the required annual payments on December 31, use the amortization schedule to determin amount of the (rounded) annual payment; (b) the amount of Interest Expense to report in the year ended March 31, 2021; amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024- the total interest and total principal paid over the note's entire life 2. Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) Janu and (b) March 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the company makes the required annual payments on December 31, 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 March 31, 2021; (c) the amount of Interest Expense to report in the year ended March 31, 2022; (d) the Notes Payable balance at January 1, 2024; and (e) 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 March 31, 2021 (c) Interest Expense March 31, 2022 (d) Notes Payable January 1, 2024 (e) Total Interest (e) Total Principal Show less A Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the company makes adjustments at the end of each fiscal year, prepare the journal entries required on (a) January 1, 2021, and (b) March 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 Record the entry on January 1, 2021. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry Clear entry View general journal