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 Beginning Notes Payable Repaid Principal on Notes Payable $ 2,590 $ 11,000 Interest Expense $ 440 8,410) 5,716 336 229 2,694 2,802 1/1-12/31, Year 4 Total 2,914 117 1,122 2,914 11,000 Required: Ending Notes Payable $ 8,410 5,716 2,914 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.) Show less A 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.) Show less A (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 Required 1 Required 2 > 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 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