Alimentex Inc. develops, manufactures, and markets a wide range of fruit and vegetable juices and drinks as well as specialty food

products, such as fondue broths and sauces, soups, gravies, pestos, and sauces for pasta and pizza. Use Table $8$C$\mathrm{.}1,$ Table $8$C$\mathrm{.}2.$

$($Round time value factor to $4$ decimal places.$)$

The company's long$-$term debt includes the following obligations:

Required:

Assume that the equipment related to the first obligation was acquired on January $1,2020$ and that the first payment of $$262,212$

was made on December $31,2020.$ Verify that the carrying amount reported by the company as of December $31,2022$ represents the

present value of the remaining annual payments. $($Note: Tables $8C\mathrm{.}1$ and $8C\mathrm{.}2$ do not include the $5\mathrm{.}5$ percent interest rate. Use

Microsoft Excel or a calculator to compute the present value of future payments.$)($Enter your answer in dollars not in thousands of

dollars rounded to the nearest whole dollar.$)$

Carrying amount

How much interest will the company pay as part of the five remaining instalments on the $5\mathrm{.}5$ percent obligation? $($Hint$.$ You may find

it helpful to prepare a schedule similar to Exhibit $9\mathrm{.}3,$ option $3.)($Enter your answer in dollars not in thousands of dollars rounded to

the nearest whole dollar.$)$

Interest paid

Prepare the journal entry to record payment of the instalment on December $31,2023.($If no entry is required for a

transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in dollars not in thousands of

dollars rounded to the nearest whole dollar.$)$

Journal entry worksheet

$1$

Record entry for payment of annual instalment.

Note: Enter debits before credits.

Assume that the obligation under the lease was signed on July $1,2021$ and that the first semi$-$annual instalment was made on

December $30,2021.$ Verify that the carrying amount reported by the company as of December $31,2022$ represents the present value

of the remaining semi$-$annual payments. Use a calculator or Microsoft Excel to compute the present value of future payments. $($Enter

your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.$)$