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On December 31, 2020, Indigo Company signed a $1,067,100 note to Sweet Bank. The market...

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On December 31, 2020, Indigo Company signed a $1,067,100 note to Sweet Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Indigo's financial situation worsened. On December 31, 2022, Sweet Bank determined that it was probable that the company would pay back only $640,260 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,067,100 loan. Determine the amount of cash Indigo received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to decimal places, e.g. 5,275.) Amount of cash Indigo received from the loan $ eTextbook and Media Assistance Used eTextbook Prepare a note amortization schedule for Sweet Bank up to December 31, 2022. (Round answers to decimal places, e.g. 5,275.) Note Amortization Schedule (Before Impairment) C An Cash Received Increase in Carrying Amount Interest Revenue Date 12/31/20 $ 12/31/21 $ $ $ 12/31/22

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