At the end of each year, you plan to deposit $3,600 in a savings account. The account will earn 8% 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. Evo 51. PV of $1. EVA of $1, and PVA of 3.1) (Use the appropriate factor(s) from the tables provided.) Required: 1. Assume you follow GAAP. Prepare the required joumal entry at the end of Year 1 2. What will be the balance in the savings account at the end of the 10th year after 10 deposits? 3. What is the interest earned on the 10 deposits? 4. How much interest revenue did the fund eam in the second year? In the third year? 5. Assume you follow GAAP Prepare the all required journal entries at the end of the second and third years. Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Req4 Reas 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 Onlist Journal entry worksheet 1 Record the required journal entry on December 31, Year 1. Note: Enter debits before credits Debit Date General Journal December 31 Savings account Credit Record entry Clear entry View all P Reg 2 and 3 > Prepare the all required journal entries at the end of the second and third years. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Req 4 Req 5 2. What will be the balance in the savings account at the end of the 10th year (i.e., after 10 deposits)? (Round your answer to nearest whole dollar.) 3. What is the interest earned on the 10 deposits? (Round your answer to nearest whole dollar) 2 Balance in the savings account Interest earned 3. Reg 1 Req 4 > 36 e journal entry at the end of Year 1 2. What will be the balance in the savings account at the end of the 10th year (le, after 10 deposits)? 3. What is the interest earned on the 10 deposits? 4. How much interest revenue did the fund earn in the second year? In the third year? 5. Assume you follow GAAP. Prepare the all required journal entries at the end of the second and third years Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Reg4 Reqs How much interest revenue did the fund earn in the second year? In the third year? (Do not round Intermediate calculations, Round your answers to nearest whole dollar) Year 2 Year 3 Interest revenue Volir answers in the tabs below. 2 Den 2013028 Red R2 and 3 Reg 4 Reqs Prepare the all required journal entries at the end of the second and third years. (if not required for transactior event select "No journal entry required in the first account field. Round your awes to nearest whole dolac) View transaction ist Journal entry worksheet Record the required entry on December 31 Year 2. Notalter debit before credits General Debit Credit Date Docomber 31 View general Record entry Charley
