Blossom Inc. provided several entertainment services to Monty Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Monty was unable to pay the outstanding balance. Blossom agreed to accept a $420,000 non-interest bearing note payable on December 31, 2024. Monty typically could arrange this kind of financing at an interest rate of 15%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.2512