Jennifer Grey has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2021. Jennifer was loaned $127.500 at an annual interest rate of 7%. The loan is repayable over 5 years in annual installments of $31,096, principal and interest, due each June 30. The first payment is due June 30, 2022. Jennifer uses the effective-interest method for amortizing debt. Her ski hill company's year-end will be June 30. (a) Your answer is correct. Prepare an amortization schedule for the 5 years, 2021-2026. (Round answers to O decimal places, eg. 125.) Period Cash Payment Interest Expense Principal Reduction Balanc $ $ $ 31096 8925 22171 July 1, 2021 June 30. 2022 June 30, 2023 June 30 2024 31096 7373 23723 31096 5712 25384 Prepare an amortization schedule for the 5 years, 2021-2026. (Round answers to decimal places, eg. 125) Cash Payment Interest Expense Principal Reduction Balance 127500 31096 8925 22171 105329 31096 7373 23723 81606 31096 5712 25384 56222 31096 3936 27160 29062 31096 2034 29062 0 i $ 155480 $ $ 27980 A 127500 Prepare all journal entries for Jennifer Grey for the first 2 fiscal years ended June 30, 2022, and June 30, 2023. (Round answers to O decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date July 2021 June 2022 June 2023