1. Make the appropriate entry for Benson Bazzell Company on December 31, 2021. Round

answers to the nearest dollar. (Show calculations.) (You may calculate the interest

revenue and discount as we did in class, or by using an amortization table as shown in the

text.)

On December 31, 2020 Benson Bazzell Company accepted Russell Ram Company's $150,000 3- year note, paying 8 percent annually on December 31, as full payment for a specialty piece of equipment. The market rate of interest for similar notes is 6 percent. The following data is provided Table Factors for 3 Periods Interest Rate 6 percent 8 percent Future Value of $1 Present Value of $1 Future Value of an Ordinary Annuity of $1 Present Value of an Ordinary Annuity of $1 1.19102 .83962 3.18360 2.67301 1.25971 .79383 3.24640 2.57710