Long-Term Notes Receivable and TVM. Use the following present value tables to help answer the following questions. * Do not round any answer until your final answer. Round your final answer to the nearest whole dollar. When entering your final answer, do not use commas or $ sign. (Sorry...Blackboard is very sensitive and will mark your answer incorrect due to rounding and punctuation.) PV of $1 Periods 4% 6% 8% 9% 3 89 .84 79 .77 5 9 .82.70 .74 .59 .68 .50 .65 46 10 .68 .56 46 42 Present Value of an Ordinary Annuity 4% 6% 8% 9% 2.77 4.45 7.43 8.11 2.67 4.21 6.80 7.36 2.57 3.99 6.25 6.71 2.53 3.89 5.99 6.41 Part I. On April 1, 2020, ABC Company rendered services to Jones Company in exchange for a three year, $400,000, 8% note. Payments of P&I (Principal & Interest) are due each April 1st, with the first payment due immediately. December 31st is the fiscal year end for ABC. Jones' normal cost to borrow is 8%. Required: Use the above information to answer the next (4) questions: 1. Determine the dollar amount of the cash payment of P&I to be $[Question_1] remitted each April 1st: 2. Determine the Service Revenue ABC can recognize on $ April 1, 2020. 3. Determine the Total Interest Revenue that ABC will recognize on this note for the year ended December 31, 2021. Current Assets: Interest Receivable $ 4. Prepare a partial Balance Sheet for this Note Receivable as of December 31, 2020: Note Receivable $ Long-Term Investments: Note Receivable $ Determine the dollar amount of the cash payment of P&I to be remitted each April 1st: $ Using the information presented in #1 above, determine the amount of Service Revenue that ABC should recognize on April 1, 2020: Using the information presented in #1 above, determine what amount of Interest Revenue ABC should recognize from this note for the year ending December 31, 2021. Using the information presented in #1 above, prepare a partial Balance Sheet as of December 31, 2020: Current Assets: Interest Receivable $ Note Receivable (current maturity) $ Long-Term Investments: Note Receivable