$1.$ Please provide journal entries for the following transactions related to Notes

Receivable for XYZ Co$.$ The company records an adjusting journal entry for

accrued Interest Revenue once a year at $12/31.$

$2/1$ Provided $$7,500$ of service to A Co$.$ and accepted a $6-$month $5\%$ note.

$3/1$ Loaned Employee T $$2,500$ and accepted a $3-$month $4\%$ note.

$6/1$ Note from Employee T matured, they honor the note $($we collect$).$

$8/1$ The note from A Co$.$ matured today, they default.

$10/1$ Provided $$5,000$ of service to B Co$.(2/10,$ n$/30).$

$11/1$ Accepted $3-$month $3\%$ note from B Co$.($roll over A$/$R to N$/$R$).$

$12/1$ Loaned Employee Z $$3,000$ and accepted a $4-$month $6\%$ note.

$12/31$ Accrue interest revenue from Z$,$ B$,$ and A$.$

Next Year

$2/1$ Note from B Co$.$ matures today, they honor the note $($we collect$).$

$3/15$ Collect from A Co$.$

$4/1$ Note from Employee Z matures today, they honor the note $($we collect$).$

$(40$ Points$)$

$2.($A$)$ Please prepare the depreciation schedules for both the Straight$-$Line and

Double Declining Balance methods of depreciation based on the following:

Purchased a machine at a cost of $$33,500$ on $1/1/1($first year in business$).$

The machine has an estimated salvage value of $$1,500$ and an $8-$year useful life.

$($B$)$ Please provide a side$-$by$-$side analysis of the tax impact for the first year of

business using both the Straight$-$line and Double Declining Balance Methods.