Marin Inc. provided several entertainment services to Bramble Corporation in the past. On January 1, 2020, when the receivable for the past services was due, Bramble was unable to pay the outstanding balance. Marin Inc. agreed to accept a $320,000 non-interest bearing note payable on December 31, 2021. Bramble typically could arrange this kind of financing at an interest rate of 15%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. X Your answer is incorrect. Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to decimal places, eg. 8,971.) Note receivable $ e Textbook and Media - Your answer is partially correct. Prepare the journal entry to record this transaction for Marin Inc. on Jan 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Notes Receivable interest receivable e Textbook and Media Your answer is partially correct. Prepare the journal entries for December 31, 2020 and 2021 using the effective interest method, and assuming that Bramble pays the note on schedule. (Round answers to decimal places, eg. 8,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit December 31, 2020 Notes Receivable Interest Income December 31, 2021 Notes Receivable Interest Income (To record interest) December 31, 2021 Cash Notes Receivable (To record maturit