= Homework: Week Two Question 5, BE16-13 (similar to) Auburn Enterprises, a major real estate developer, recently accepted a $11,500,000, five-year, 1% note receivable in exchange for products sold. Interest is paid annually. The current market rate of interest is 5%. The note is not publicly traded. Prepare the journal entry to record the sale. Ignore cost of goods sold. (Record debits first, then credits. Exclude explanations from any journal entries. Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answers to the nearest whole dollar.) HW Score: 1.82%, 0.4 of 22 points Points: 0 of 1 (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) Save (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) Account Cash Discount on Notes Payable Discount on Notes Receivable Interest Expense Notes Payable Notes Receivable Sales Help me solve this Etext pages Get more help Type here to search Current Year 3' Clear all Check answer 55F Mostly sunny 1:59 PM 1/18/2022