Bento Corporation took a $480,000 four-year, 3% note receivable from a customer in connection with a major sale transaction. The note required annual blended payments, to be paid at the end of each year. The market interest rate is 3%. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the required blended payment. (Round time value factor to 5 decimal places and final answer to the nearest whole dollar amount.) Annual payment 2. Prepare a schedule that shows the annual interest and principal portion of the four payments. (Round time value factor to 5 decimal places and intermediate calculations and final answers to the nearest whole dollar amount. Enter all answers in positive.) Payment Opening Balance Interest Component Principal Component Closing Balance 1 2 3 4 3. Prepare journal entries to record the initial sale transaction and each payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round time value factor to 5 decimal places and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Record the initial sales revenue. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal