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Current Attempt in Progress Novak Corporation, a publicly traded company, agreed to loan money to another company, On July 1, 2020, the company received a five-year promissory note with a face value of $513,000. paying interest at a face rate of 4% on July 1 each year. The note was issued to yield an effective interest rate of 5%. Novak used the effective interest method of amortization for discounts or premiums, and the company's year end is September 30, 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) Your answer has been saved. See score details after the due date. 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.es. 125125 and the final answer to decimal places.ex. 58.971.) (a) Your answer has been saved. See score details after the due date. 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, es 125125 and the final answer to 0 decimal places, es 58,971) Note receivable $ 490790 Attempts: 1 of 1 used (b) Your answer has been saved. See score details after the due date Prepare a schedule of note premium/discount amortization schedule. (Round answers to decimal places, es. 58,971) Schedule of Note Discount Amortization Effective Interest Method Date Id- Cash Received Interest Income Discount Amortized Carrying Amc m- yr) 1 Jul 20 1 490790 4020 494810 20520 24540 1 4221 499031 20520 24741 4432 503463 20520 24952 508116 4653 20520 25173 4884 513000 20520 25404 MUZU 29510 20520 JUI 21 24741 4221 1 Jul 22 20520 24952 4432 1 Jul 23 20520 1 Jul 24 4653 25173 20520 4884 1. Jul 25 20520 25404 22210 $ $ 102600 $ 124810 c) Prepare the journal entries to record the issue of the note on July 1, 2020, and any required accrual entries at the company's year-end on September 30, 2020. Finally, prepare the journal entry to record the first cash collection received on July 1, 2021 for Novak Corporation. (Round answers to decimal places. e. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Debit Date Account Titles and Explanation