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At the end of each year, you plan to deposit $3,500 in a savings account. The account will earn 9% annual interest, which will
At the end of each year, you plan to deposit $3,500 in a savings account. The account will earn 9% annual interest, which will be added to the fund balance at year-end. The first deposit will be made at the end of Year 1. (EV of $1. PV of $1. EVA of S1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Required: 1. Prepare the required journal entry at the end of Year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the required journal entry on December 31, Year 1. Note: Enter debits before credits. Date General Journal Debit Credit
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