11/1/x2: Hari completed excavation work for one of its customers. The followingpayment terms were arranged on 11/1/x2:

Quarterly payments: $ 5,000

Date of first payment: 11/1/x2

Date of last payment: 8/1/x4

Effective annual interest rate: 8%

This note is referred to as Note Receivable "2". The effective interest method of amortization

is used. The revenue is recorded in the company's "Sales" account.

Record the excavation work and receipt of the note receivable "2" on 11/1/x2.