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Check my work At the end of each year, you plan to deposit $3,000 in a savings account. The account will earn 8% annual interest,
Check my work At the end of each year, you plan to deposit $3,000 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. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 4. 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 $ 499 $ 779 5. Prepare the all required journal entries at the end of the second and third years. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 December 31 Savings account 3,000 Cash 3,000 Interest revenue
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