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just want to see if I got this right REQUIRED: Answer each of the following. Be sure to show all calculations in good form. On

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just want to see if I got this right

REQUIRED: Answer each of the following. Be sure to show all calculations in good form. On December 31, 2019, Green Company finished consultation services and accepted in exchange a promissory ote with a face value of $850,000, a due date of December 31, 2022, and a stated rate of 5%, with interest receivable at the end of each vear. The fair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10%. The following interest factors are provided: Interest Rate 5% 1.15763 Table Factors For Three Periods Future Value of 1 Present Value of 1 Future Value of Ordinary Annuity of 1 Present Value of Ordinary Annuity of 1-S12 10% 1.33100 75132 3.31000 2.48685 .86384 3.15250 2.72325 Instructions (a) Determine the present value of the note. eV aF IniereJt 8501000 x.05 x112 42500 cash Inlerest 42500 x 2,les 105(091 Prar interest -/ 8p000x.7S122(030,(22 pvaeface Pr of Face PV Or note 744313 present valve (b) Ignore your answer to part a and assume that the present value of the note is $720,000- all other terms associated with the note are the same. Complete the following Amortization Table for ALL years under the effective interest method. (Round to whole dollars). columns in the amortization table. Please note the titles of the 8so0GO 720000 130000 THE DUE DATE OF THE NOTE IS DECEMBER 31, 2022. Discount Cash Discount Carrying Interest Date Interest Amortized Balance Recognized Value 120000 0042S) (20000-2950UQpo-100500) 149500 -0- 130000 12/31/19 (120070 40 40 50 2000 42500 19500 100 500 12/31/20 32450 Os0 4950 42500 12/31/21 42500 0050 850000 -0- 12/31/22 150

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