2. Notes Payable: On 1/1/2020. Jonas Corp. also issued a 12%, 2-year note for $80,000, with annual payments of $47.336. Tip: if you open this document in Word, you can use the Excel table to auto calculate amounts with formulas. a Prepare an amortization schedule Payment Interest Principal End. Balance Year Beg. Balance 12/31/2020 12/31/2021 b. What is the total amount of interest paid by Jonas Corp over the life of the note? c. Using only the information in this problem, what is the amount of long-term liabilities reported on Jonas Corp.'s 12/31/2020 balance sheet? d. What is the entry made by Jonas Corp. on 12/31/2021 to record payment on the note? e. Jonas Corp. is looking for a flexible debt agreement that allows them to borrow money and repay it at will. What type of debt would best serves their needs? 3. Common Stock and Dividends (10 points) Instructions: Record the journal entries for the following transactions. a. Jonas Corp. issued 2,000 shares of $10 par value common stock. The stock was sold for $12 per share. b. Jonas Corp. issued 1,000 shares of its $5 par value, 12% cumulative preferred stock in exchange for land. On the date of the exchange, the market value of the stock was $15 per share and the land was appraised for $16,000. c. Jonas Corp. repurchased 1,500 shares of its $10 par value common stock. Jonas paid $12 per share to repurchase the stock. The stock had an original issue price of $15. d On 2/2/2020, Jonas Corp. declared a total dividend of $10,000 to be paid on 3/1/2020. Jonas Corp. had 2,500 common shares outstanding, 1,000 shares of $5 par-value, 12% cumulative preferred shares outstanding. Jonas Corp. also had $1,000 of dividends in Record the entry on the date of declaration arrears. 11. Record the entry on the date of payment