Create T-accounts from the facts given for this Indoor Football League team (IFL), the Columbia Destroyers. The club used accrual based accounting a. The club was capitalized as follows: Borrowed $1,000,000 at 7% interest for seven years (PMT=$185,553;i= $70,000). Assume full interest payment made during year. Investor provided $1,500,000 to fund the new venture b. The club was purchased for $1 million c. The team paid certain costs and expenditures: Purchased Equipment - $250,000 d. The team generated cash receipts as follows: Ticket sales - 40,000 fans at $16.25 per ticket e. The team averaged the following ticket sales discount during the season $2.25 per ticket sold f. Depreciation: All short-term fixed assets depreciated over a 5 year life using the straight line method g. Other information: Don't forget the depreciation, amortization and interest expenses Franchise value amortized over 15 year period