At the beginning of 2021, VHF Industries acquired a machine with a fair value of $6,074,700 by Issuing a four-year, noninterest-bearing note in the face amount of $8 million. The note is payable in four annual Instaliments of $2 million at the end of each year. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Required: 1. What is the effective rate of Interest implicit in the agreement? 2 to 4. Prepare the necessary Journal entries. 5. Suppose the market value of the machine was unknown at the time of purchase, but the market rate of Interest for notes assimilar nisk was 11%. Prepare the journal entry to record the purchase of the machine. Complete this question by entering your answers in the tabs below. Required 1 Required 2 to Required 5 What is the effective rate of interest implicit in the agreement? Interest rate % Required 2 to 4 > At the beginning of 2021. VHF Industries acquired a machine with a falr value of $6,074,700 by Issuing a four-year, noninterest boartng note in the face amount of $8 millon. The note is payable in four annual Installments of $2 million at the end of each year. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factoris) from the tables provided.) Required 1. What is the offective rate of interest Implicit in the agreement? 2 to 4. Prepare the necessary Journal entries. 5. Suppose the market value of the machine was unknown at the time of purchase, but the market rate of interest for notes of similar risk was 11%. Prepare the journal entry to record the purchase of the machine. Complete this question by entering your answers in the tabs below. Required 1 Required to Required 5 Prepare the necessary journal entries. (If no entries is required for a transaction/event, select "No joumal entry required in the first account field. Enter your answers in whole dollar.) Vlow transaction at Journal entry worksheet Record the purchase of the machine. Date January 01, 2021 General Journal Debit Credit At the beginning of 2021, VHF Industries acquired a machine with a fair value of $6,074,700 by Issuing a four-year, noninterest bearing note in the face amount of $8 million. The note is payable in four annual Installments of $2 million at the end of each year. (FV of $1. PV of $1 FVA of $1. PVA of $1. FVAD of $1 and PVAD of uj (Use appropriate factor(s) from the tables provided.) Required: 1. What is the effective rate of interest implicit in the agreement? 2 to 4. Prepare the necessary Journal entries 5. Suppose the market value of the machine was unknown at the time of purchase, but the market rate of interest for notes of similar risk was 11%. Prepare the journal entry to record the purchase of the machine Complete this question by entering your answers in the tabs below. Required 1 Required 2 to Required Prepare the necessary joumal entries. (If no entries is required for a transaction/event, select "No joumal entry required in the first account field. Enter your answers in whole dollar) View transaction at Journal entry worksheet 3 Record the first installment payment at December 31, 2021 to store Date Decemos General Journal Debit Credit At the beginning of 2021. VHF Industries acquired a machine with a falr value of $6,074,700 by issuing a four-year, norinterest-bearing note in the face amount of $8 milion. The note is payable in four annual Installments of $2 million at the end of each year. (FV of $1. PV of S1 FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1] (Use appropriate factor(s) from the tables provided) Required: 1. What is the effective rate of Interest Implicit in the agreement? 2 to 4. Prepare the necessary Journal entries. 5. Suppose the market value of the machine was unknown at the time of purchase, but the market rate of Interest for notes of simfar risk was 1%. Prepare the journal entry to record the purchase of the machine Complete this question by entering your answers in the tabs below. Required 1 Required 2 to Required 5 Prepare the necessary journal entries. (If no entries is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollar.) Vlow transactions Journal entry worksheet Record the second installment payment at December 31, 2022. Note dish General Journal Date Decembers 2022 Debit Credit At the beginning of 2021. VHF Industries acquired a machine with a fair value of $6,074,700 by Issuing a four-year, noninterest-bearing note in the face amount of $8 million. The note is payable in four annual Installments of $2 million at the end of each year. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $u) (Use appropriate factor(s) from the tables provided) Required: 1. What is the effective rate of interest implicit in the agreement? 2 to 4. Prepare the necessary journal entries. 5. Suppose the market value of the machine was unknown at the time of purchase, but the market rate of interest for notes of similar risk was 11%. Prepare the journal entry to record the purchase of the machine Complete this question by entering your answers in the tabs below. Required 1 Required 2 to Required 5 Suppose the market value of the machine was unknown at the time of purchase, but the market rate of interest for notes of similar risk was 11%. Prepare the joumal entry to record the purchase of the machine. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollar.) View transaction in Journal entry worksheet Record the purchase of the machine Date January 1, 2021 General Journal Debit Credit TABLE I Future Value of $I PVS1L+ 40% 7.04 NE 10.09 200 3.0N 35% con UN 5.0 1 101000 101500 102000 102500 101000 1,03500 1.04000 10450005000 105500 2 162010 1030.27 10400 105045 16093 07123 100100 1.090 1.10250 LIESOS 1000 10450 1.06121 1.07689 109273 1.10072 112486 1.14117 118 117434 00000 OPETT ZORGT 107000 114490 LON 1.08000 116610 1.09000 111310 1 10000 1.21000 WEI SEE 000117 DOOIT QIZATI EPLOI GOVT ESELSE MERT HE ISSIET Z5261 01 SHE ISSEL ROCI EVO 10 L 000101 GOLCE 20000 1A1000 17100 207300 POSET COSECI SUIVI DE ORICE SSCOPE FOT CORSI 1.26240 1.33823 5. 105101 107728 106 113141 15927 11700 1.21045 124618 127628 1300 146110 101051 1.51807 1.6450 EL DIOPT OFT CERE EGZI SOI 96511 9191 RO 141852 KLOOST RVEST IPOST 107214 102114369 16809122907 2722813159 16066 140710 145468 1075 112649 16 21540 176677 111681 1 MES 142210 1.47746 153469 LEOS 1.60578 081 ZREZI 190CZ SBEST BESC DC GOST CESSI OLI TENI 069 LLORES SIT MOLT S1 ! CON IL CONTROL ZE OL 167710 177156 1972 207616 1.99956 214999 2.10454 255864 2.35756 2.5937 28194 1.71819 1.63646 1.96715 SAEE GIZ 006161 CORSIZ 2.479 277305 SRO LOST HIG Sort LW 1 79: 1347 3110 11642 14597 1.51945 162283 17104 1070 102 149 150 151107 180101 19 1988 1011 2 381 LA 15619 1660 165 00572 R 14 15 16 17 979931100 1 10 159 167535 150094 1995 2 2161 251017 SHO GLOSTE SHOZ 20285312 313176 341766 33:45727 7410 91610 OLET Z 0600 BEECE S16P BER HOC TEE ALISE PEKEE 10690 OBCE CHE TI STERS 16 TOGGLE 75459 011 250 20 COM 1S COOR SED CE MI SE MEGEL O ISHTE O SEE IF 06216 SETT STORE 0 THE USE OLLE E SIG SEE TENT E 500 TE CODE Posts 109 SSES COLE 66 Do 07351 5990 1991 0756 792 SOLITO 1 1 1 1 TET HE 100 5999 013 25656 ITSM 11.00 LE M 20 TO & CHE O ini e TABLE Z Present Value of $1 PV- 15 +) LON SON 1 WE NE WE 1555 NO HOY wers WOTNET WBC CEO 9 00050 B6 Z60660 OMHO CAMEO 7560 P60 SI 1991 ZBOLSO19526060460 SH 105601 RO 1950. ZAO LA FOSCO 2 0616CO EUROPEO IMO MESSO SO OOO SHIGEO DOS FLS160 26 3 097959 958 3692860 91514. 18900 0.7600.16384 0.55161023461 0.816 0.1965 0.71 075131 673119 071171 0.57870 40.90 0211 0.925 2.90993 0.3349 0714 0.85480033556 0.8170 072 0.79209 0.16290 073503 0.10843 0.8391 0.6587306955204235 110 HOSSOS OD ROW SILD MARCO SOLO SELO SCONO I 1999 SRO 250000 560 5 40 .91454 1 8748 KSS 6.79031 1079.74611 0.73835 0.704 63.4017 0.17 . 8.33464. 342 201611056 0312 31169 0.7 073992 0.73455 105 0.04 0.00505 062275 0.58349.4103 0.1318 916 6:45236 0 $0.92945 77 883075159410.73069670319 0.67654 085160 062741 658301e54077 018 045 043393 6.4383 021257 IN 1998 O DIRE CHOSO 160 W.190 1990 DO 6500 DO 2000 TOMIS 19.9.90 0.001S000926:67336 0.64391 619 058543 058899 5083 0.46319. D.423 038554 321 032197 0.0151 PAN 6.104366814 072344345 S 3.61630. 0307 410 433 271 354 03172 0.1345 TED.756 EE GOITE 4690.00 0.1997 0.11101 0.397 035551G3106 034 03585310118 200 000 0.0003 DEDUCTIE 1461471012611 33 35751 609346 Bom 30302 07 180 BLOGUCE SEE THE TEST ZUID SEESSE ET ID: Szere WEB ESTO ESTATU EL S T 1 W BESTSELLE SE BITED PR wi iring 109 TL LORED TED 125 WORD DE CE BINNEN G DIE TABLE 3 Future Value of an ordinary Annuity of $1 (1+1-1 PVA NOT 20% 254 Sors 40% 5.0% 5.5% 90 7.09 BON W06 10.05 120% w 1 00001 NST 00001 OSTOZ SHOC 00001 3.54 1.0000 20350 3.1062 1.0000 2.0500 10000 2.0550 1.0000 2 10000 11.ON 1.0000 21100 1.0000 2.0800 Dobot 00001 00107 LOCO E PON+ otors 10000 20700 32149 L0000 2.1200 45% 1.0000 20150 3.1370 4.2782 5.4707 2.1000 22000 3 10000 10000 20250 2010 30756 3.0909 4186 5.2563 53091 1.0000 20400 31216 4.2465 54163 3.0604 41216 0891 1.0000 20600 3.1836 43746 56371 1990 HCC 4 STSI GHI SEST TOIC 9SZSS 4 0909 51523 4.5061 ICHE 0602 IRLES TELS 1965 OOIE 0119 Isot 43423 S.5811 4.7293 666 LOSLS 5 1.6700 $3680 7:4116 5.2010 5.3635 5.8666 R$6 6.7169 61059 6.9793 ESTA OECL 7.5133 79119 6.3041 64877 75474 3.500 3.7361 6.6330 78983 7.6635 6.3502 7.7794 90517 26108 NEET . OEST 96279 SER OEZIE CHE . Es 258 0688 CHITE 6 58966 16596 9566 BOSOL SNOEL 165101 566 1900 TL 1659 11 HOC I HO TOCOL COOL OL 86540 OCH 16756 6.6851 3.2669 9.7210 11 156) 12-9159 7.7156 9.4572 11.4359 9.3800 061001 26671 9.2004 110285 130210 9.8975 11-4913 10 1598 11 9780 1669 9.703 11.8594 H1610 10.6366 124576 14.4566 108021 110166 12.5779 SOLS 6651 12 2882 HATI 147757 17 50 SOSTEL 66151 11 11.5668 11.8433.12.1657 12.4835 12.807 13.1420 13.4564 13.12 18.3313 32.1504 17.5605 20140 19.5614 1211141131 TESETT 14.30 14.5835 14716 15.7836 16.6445 159171 153856 16 17 1 18971 17 00 13200 1501 20 1400 1946 21505 276 21401 21700 25.12027151 SEOS 0000100612T 1 To 589 tttt EGET 01 3909 DT 18:19:51 TOTS E009 + 99 615CBT OO900! 05059 SELSEMASSE 411 90056 STESES 11 STEZ TEZLI 129 91 696 10 19 4640 17. 1599 10933 20.7541 243227 26.019 22.9750 1101 30.0948 SU 1E SOOS E UITLE 22.193 SELE LE TENTES SEST HER 1973 96697 LI GILS 389737 CHO 5004 SEE OLLEE GOSTE COSCO COLT GST LT 3 SLET OGOLE PRIE TOETS EVOL 1519 OTC COIROD CITESTIT DO TOOTH 0610 TC 0 ISSE DECO COE ost TIE ott TIC 12110 31000 ISSE CEC695 FER 300 111100 CEO Lots 25.7620 OCH 15. COPTES FOR THE TZ . 0 0 W hinto 010 PIETI SH 1 TO BE STREET a o Maps Register Pearson... TABLE4 Present Value of an Ordinary Annuity of $1 1-1 PVA- L09 1.55 2.54 3.014 LON ASN SOM 1 0.97087 0.95694 098615 1 89909 0.93010 197040 2.9400 390197 09154 1.53609 8.09 0.92593 7.09 0.93458 1.3000 2.0% 0.98039 194156 235343 1.SOTTI 471346 018522 195585 291220 3.85435 478264 097561 192742 2.85602 3.76197 464581 137267 2.74095 2.80164 1.91347 201361 3.71710 4 $1971 0.9523 185941 2.7235 3.54595 412940 09787 184612 289793 3.50515 0.94340 113399 2.67301 1.446511 2.77509 3.6.1990 445122 2.62432 9.04 10.01 110 11.09 20.01 091743 0903 0.9009012216 11 1.75911 1.73554 171252 253129 2.4BGES 241371 240163 210648 329972 316957 3.10345 3.01735 SET 3 5 79079 10902.001782.99051 3.67108 451505 170126 2.57710 331213 199271 3.38753 438998 3.35721 410020 427028 421216 4.99 4,91739 5.15787 5.89370 5.68297 5.79541 6.72519 165166 $56602 9.4110 60719 6.59821 7:46 38052 972 5.60143 3.5013 X41780 64719 623038 733545 717014 701909 297087 7.25611 982599930399000 3895 6.11454 657396 7.60769 11661 5.2014 600205 6.73274 7.43533 81109 5.075.00 57867 64631 7.10783 172173 631457 4.76654 463255 538999 5.2007 597130 5.74654 651523 624689 70258 71005 358238 620979 8.30169 7.36005 44859335526 413054 411141351 503295 486542 471220456376 30049 5.53487 5.3393 514612496764 381716 5.99535 5.750553.705 53035403097 641766614457 523 5650224 19241 72619 791273 695220 733761 SS18 ins 713895 SER 153000 10.36763 10.0711 478685951431 8.25363 8.76048 1892 5.30641 11.250 1025 10754 10 3576 09030 9380 9.113 111213174 11731110911910 654 10 0274 SES 90 999157 13000 1353511061531691 1083031058112109164 11134 113 114 1153910 19 100 SRIOS LI 788657 749569 31 12 1173 1993 FUSE 2 103 1030 978 519 6.49966 60651 393770 432704 716073 6116.492186.1993 74710336 1937 6.42355 45323 78 79 813 000001005281055 42343 1434 3.813 1314 16 147 1410136 137 13.05300 12.00 121 1230 12403 104 10.1 M 11 195025149701 15166121 121656719 100 IE 1 15.6726 14 1175 115 151732601 - 1 18 19 11 2011 1470 14001 31166119 731916 697519 4.7295 1410115521194 2015110111110739074 01 09 17 18 11 AM 1790014 110 10:15 100 114091641011 3132051411 10 *24 104 105 1939111 111001 10 12 TO 10 FOSSI COOL ARLES Future Value of an Annuity Due of $1 VAD (+1) 204 3.0 SON 15 NSE OSEOT 70% 100% 1204 1 2 1.0500 UN 10350 21082 10200 2004 1.0000 co 1. 0100 21216 3.2465 SLOT NET DOLOT OS101 ESPOO MONO 6060 otot SESI 00515 5 962TS W OSIO OLEIZ CRUTE 11.0 1.1100 1.0% 1.0800 2.2464 11200 SLOT 1.0700 22149 2.1525 11000 23100 2.1836 10300 2 0909 3355 31836 2563 5.3677 6.4664 N06 0001 LET ICES 1986 10550 2.1680 3.3423 45811 3 DOCT DOH ODE DOLCE 1905 4 IMET LOCE BLUES 100 3.2149 43625 3.5502 EPE LOSE ONOCE 10CS 45256 3.6410 5 1051 4,6371 4666 COLES BESES ESITZ 44707 5.7169 5.6330 5.8019 53881 5.9753 CES19 63359 65233 67156 3927 BEPEL 7-1998 F4999 POLLS LISO 682 TRS DES SELE LSSTE SIDE 1 EZ 68089 THIS 82856 CoTOL 00868 1 2016 6.323064345 65414 7.5830 73361 1.5593 SI 19545 93633 27037 10,2034 10:4639 10.7394 11 6061 10105008108631.68 1439 11 078 1140 124354 128412 TESTS SEO 87216 119159 15:29 88975 7.6540 92598 10.9780 3.5491 100266 11.5729 COSCO de or 79128 9.6366 11-476 13:4566 156155 - 10-02S 12.02.10 141999 16 500 10.8594 13.1660 15.7220 183614 11.1997 137757 165467 196546 SOSTI HET TIESI 118754 13 589 12.1805 13.9716 13.3065 311504 stop 0091 OTCE 954L TLIFE POI ILI TETET 15. 3556 155499 16.888 1910 ILLE COFOE 10 LOPT61 5612 CITOS LIESE 14540 lo 113321 19. DELETE OLTESE 6606 HOT SOS 12 12300 101 1461 15 110 15.6265 1313517414041919 15-5190 160 170 17,2919 1679 169119H 1907 15 1657 169134 13.6 10 10 19.1 1990 12345 20151 8 1600 CHE LOLE 99695731 SOFTE SIR INFO 269750 10 7123 2 35411 110111 ESTET 265 TOOTE ES KESEIT POSTE 29 LI 1658 TE 16.450 ELDEN SLOTE LOOT TEE 10 TOT 19 tot TEE 1 SEOT 501 ha SER ELE S5 WOTE 96 TOT 2011 221 DETTE CHESS ID CEOS TELE TY ore TOOTE STORE SOS 130 100 0.0021 LE TEATESTULE LOC 2010 ESTRE C a Maps 6 Register Pearson... TABLE 6 Present Value of an Annuity Due of $1 PVAD *(1+ 2010 SN 5.5% NERE 1.00000 1.00000 6.09 1.00000 194140 1.98522 Los 100000 2 199010 2.97640 4 394099 50197 3155 1.00000 196618 2.89969 3.80154 . 100000 192593 1980.39 294156 2.54 3.ON 100000 100000 197561 1.97087 292742 291147 3.85602 33361 4.76197471710 100000 1.96151 201609 SON 100000 195236 285941 3.72325 4.56595 1.00000 195694 257267 374896 458753 1.00000 1.93450 2. ROBOT 194787 2.84632 3.69793 2.95588 391720 9.05 1.00000 1.91743 2.79911 3.53129 423972 10.046 ILON 100000 10000 100000 100000 1.90909 1900 19785 3333 2.73354 2.71252 2005 257 3.43685 1.44371340183 11000 4169ET 410245 403735573 203319 278326 357710 3.77509 462990 3.67101 4.46511 3.62432 4.35721 40T13 467305 450515 40121) 51543 5.45183 5-31945 499171 4165 557971 6.41719 609719 5.17025 599533 5.21236 591713 3.10020 57865 5.7146 5.64583 60143 747199 794999 L014 16274197057 SEISOS 6.13855 7.11456 T17196 7.720 165160 10958803 6 2014 7.00305 7.7314 58192 601395 5.38995 6.1377 689270 759589 136379 7.23028 301902 376611 6.07569 6.387 7.46331 8.10702 5094 4.79079 450 460478 3.294 535526, 52305451114111551 5.565425.71220556318400459 6.33495 614012596764415 6.79907651705 6303 3.03097 6.68197 6.582.38 133457 220979 195220 780169 65H 697110 751523 8.74864 7.34649 360769 349533 6.99525 3.0 7.71003 II 10.10 10.2018 9.952998906 2.536204661 9.11090 1.91272 217333963 12113676 1107112 10 SES 104 10:35 19-00155 1993 930641 8.5867 DJ1325508 11 OTSE 1975 1976 10934001006335 10 15 2015 9.363754 34 331337403153 154 10 109 109351 1011708 192 1934 12 10 10 10 10 10 7.14457 8923 1926 7:49500 7200076937703110 741766 230519 1160 149357 1920 3705 30784000 ONS 3.1030974255 3334 +36 717 7 561057 1. 1805 1821 11494 13.3038 IST 11.4741 111 112 11 10 10.10 0.5884011510 11100 111 T 250 w 29 7516790 17:15h 10 11 12 17 18 19 ISS S1465 141 1113419951 354922 23 238371 S OHT TE 31 19.05 KB 1160 161 1511:40 13 12 11 10 11 10 10.1245