Question: I need help on part b. Please add the steps you used on each of the blanks . thanks On December 31, 2020, Teal Company

I need help on part b. Please add the steps you used on each of the blanks . thanks
I need help on part b. Please add the steps you used
on each of the blanks . thanks On December 31, 2020, Teal
Company signed a $1.284,300 note to Flint Bank. The market interest rate

On December 31, 2020, Teal Company signed a $1.284,300 note to Flint Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Teal's financial situation worsened. On December 31, 2022, Flint Bank determined that it was probable that the company would pay back only $770,580 of the principal at maturity. However, it was considered likely that interest would continue to be paid based on the $1,284,300 loan (a) Your answer is correct Determine the amount of cash Teal received from the loan on December 31, 2020. (Round present value factors to Specimal places, e.3. 0.52513 and final answer to O decimal places, c.8. 5,275) Amount of cash Teal received from the loan 110171 (b) Your answer is partially correct. Prepare a note amortization schedule for Flint Bank up to December 31, 2022. (Round answers to decimal places, 6.8. 5,275.) Note Amortization Schedule (Before Impairment) Cash Received Increase in Carrying Amount Interest Revenue Carryini Amount: Note Date 12/31/20 12/31/21 128430 $ 143005 4579 12/31/22 17430 17161 125844 eTextbook and Media Soweto Late Attempts: 2 of 3 used Submit Answer (b) Your answer is partially correct. Prepare a note amortization schedule for Flint Bank up to December 31, 2022. (Round answers to decimal places, e.g. 5,275.) Note Amortization Schedule (Before Impairment) Cash Received Interest Revenue Increase in Carrying Amount Carrying Amount of Note 119171 128430 $ 143005 $ 4575 143005 128430 17161 125844 254274 eTextbook and Media Save for Later Attempts: 2 of 3 used Submit

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