ASU Home USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: *For all PV calculations, use the tables presented in #1 above. On January 1, 20x1, ABC rendered services to Smith Corporation and accepted a $200,000, 5 year note. In exchange, Smith agreed to make quarterly payments of P&l at the end of each Mar, Jun, Sept and Dec, with the first payment to be made on March 31, 20x1. An interest rate of 8% is imputed. Required: Use the information above to answer the next (4) questions: 1. Determine the amount of (1) PMT of $[Question_1] P&I 2. What amount of Service Revenue should ABC recognize on January 1, 20x1? 3. What amount of Interest Revenue should ABC recognize on this note for the year ending December 31, 20x3? (Hint: Use the Short-cut method) 4. What is the Carrying Value of the Note Receivable at December 31, 20x2? (Hint: Use the short cut method) Required: Determine the amount of (1) PMT of P&I: $ PV of $1 Periods 3 6% 8% .84 .74 .63 79.68.55 .77.65 50 Present Value of an ordinary Annuity 2.88 4.71 7.33 8.98 10.58 16.35 2.77 4.45 6.73 8.11 9.38 13.59 2.67 4.21 6.21 7.36 8.38 11.47 2.57 3.99 5.75 671 7.54 9.82 2.53 3.89 5.53 6.41 7.16 9.13