Albus Dumbledore, Inc. contracted to have custom-made machinery constructed. The machinery was completed and ready for use on January 1, 2021. Albus Dumbledore paid for the machinery by issuing a $350,000 note due in three years on January 1, 2024. Interest, specified at 3%, was payable annually on December 31 of each year. The cash market price of the machinery was unknown. It was determined by comparison with similar transactions for which 7% was a reasonable rate of interest. Albus Dumbledore uses the effective interest method of amortization (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of S1) (You can use Excel, your financial calculator or the provided PV Tables.) 1. Prepare the Journal entry on January 1, 2021, for Albus Dumbledore's purchase of the machinery 2. Prepare an amortization schedule for the three-year term of the note Complete this question by entering your answers in the tabs below. Journal Entry Amortization Schedule Prepare the journal entry on January 1, 2021, for Albus Dumbledore's purchase of the machinery. (I no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 11 00111 THE LOKE OSO CICLE HE 2010 21000 MERE WE 000 PORE IVE DOOR PREC HLOE ESTE EVER 2040 OOTE GE WIE HOME ESTO STA ONE LOC 116 ICON 3.21 33320 4416 46707 716 5 3503 7501 1533 18 ES WILO 1299 . 5611 O 7,0191 7.100 WE Ta 7.30 LES O SEE 55 WE VE 90 1129 TEN COSE DELE NIE CISO 100 HE 164 IES BUS ICO 100 SET SO ORLD 62611 11.737 19.790 10.00 10.256 T0411 31:57 111794121105 13 13 BOT 10 0111010110061 101001111111111131012461111 116176 1146 HEM 131010 15.30 14 26 128104 14 56455 CIELI TETE OLTESE || || | | | | | | | | | | | | | | | | | | | | | | | | 130 1144 1111110 1566 181990 1) 14104111601 160 122 14 15 16 18 1957 190 TE TOE 3. 4749 10110178 19.1400 Coor HSCHE I ONETE TRITO 10.7723 LA 10 10 HO 1199 OCTA POST POST LINE POSE LPSE LERY PRETO 17 18 19 49 20:40 11414314076454 ME 2011 CAT facts OXY 329 38 402 2009 01 17:30 SEE CE 1271161 159.40 311031 Sotto 11 LACE FOR DERECE O SE ENCE COE DO 1001 LOS: 361 18 12 16 DES 563750 630035 IRS 1240 TL2851 4.14 6173 79.4037 9.30 11 254718 333 182990 1919.368 3383480 2525250 195140670330113755301020112012 5706 1564 PS ESTE PERE FEE LP SET GEGHIBI 101 CESSOWES 2000 1000 110LEETSE O 80 GIPOL SCHWEISE 01 S2S OCH 101 LORD PER ESSES 16 ORE ME IN LOVE IS SO 90019 IP6190 SE SLS 3.7334 TABLE Pet Value of Arity Due of $1 OVA +t) IN O * 16 0001 1 on 1600 000 10000 1.07 000001 CHE MI HOM 2001 00000 VFL W THE NET NI 2000 COLE CHOICE GO 10 90000 0! DE LOCISE CHE WHEE COB CLOE LAR 1 00000 ! 000001 OR COLI TOGETYT 100 DEDE OLACE 1 1 TT SWE 0000 0000 1000000 01005606 ut OM SITE 390 FHION ET E SE OF 1030 EE PORE BOKEN GOGLE 1 GERESE HE 471710 SCH 450510111 . 784 1346 sto 499171 & SH WS SEES ONES ISSOS 100 SLTP TEX BRY OF SCOT SE THE HOME ON SO BESOS T1 111 1970 60950 32707 TA 0000 1400 015 64 LLOC ICVL CHOICE 5664 7933077515119 604 67590365377 32 503097 10 1401 19 OCH SWE TLET TWEE CLIE SCOTCE LES COSES VOLESS LISOOL BOB 11107010 2011 5.99 11 41165 11 11 12 1073 1051411035362 103 2011 1) 130 131 1754 12.27 1095400 10613 T 1003256 1030415071 70109 9736 T190734912 16 117 118 11111111111111070 10 10.997 101101010 143355 55 15: 14000338 100 1360 120 110 12 14 10.1021935 2444771876361057 16 1 132 133 132 131 13.530 113955 19.712 0 16 5.8547 17 15 7 12 10 110110120Y113101101100011 1796 197 5.7256 11 165 10 15 2T 1413 1101111413 1657 270719 120 1141 1147136 0 0 1164 547 111 18 17 1658 15H 141113690 1.100 100 100 100 100 101 512 30.11676 ISO 1470934 1314 1310 11 12 132 10 10 9950 9.82 T 11 1.6 I 1.33 160011 1147 1111 H H I 1210 14 11 S 11.3 11341101 101.55 160 170 130036 13.000 10000+ 0 SHS THESE OIKEES ON THE ONE TOWER
