5. (7 points) Harry's Designs, Inc. has agreed to accept a notes receivable from Quebec Caps in which it will receive $1,000,000 in two payments $1,000,000 in one yeat and $1,000,000 in year 2 in exchange for services rendered. Quebec Caps can borrow at a rate of 10%. The present value factors for 1 yeat is 90909 and 2 years is 82644 . 8.0.40.900,090 $1,000,000,4.0,404=8104,0,6,440 Apt Nopare the entiry to record the transaction for Harry's 81,735,530 Discount on NR=4264,470682000,0004,735,5 Ser vice Revenue =81,725,530C 6. (7 points) Below is a single-step income statement for Howell Enterprises. Convert the single-step into a muitiple step income statement