On December $31,2020,$ Carla Company signed a $\backslash$$$1,049,400$ note to Sarasota Bank. The market interest rate at that time was $\backslash (10\backslash \%\backslash ).$ The stated interest rate on the note was $\backslash (8\backslash \%\backslash ),$ payable annually. The note matures in $5$ years. Unfortunately, because of lower sales, Carla's financial situation worsened. On December $31,2022,$ Sarasota Bank determined that it was probable that the company would pay back only $\backslash (\backslash$$ $629,640\backslash )$ of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $\backslash (\backslash$$ $1,049,400\backslash )$ loan.