NAME 2. On January 1, 2019 Karel Corp. purchased a machine having a fair market value of $53,132 by issuing a four-year noninterest bearing $75,000 note. Karel uses the effective interest method of amortization. Record the issuance of the note payable and the accrual of interest and amortization at fiscal year end (You need to compute the IRR of the note). What is the book value of this note at fiscal year end 2019? ANSWER: S. Entry for issuance: 1 1 NAME 2. On January 1, 2019 Karel Corp. purchased a machine having a fair market value of four-year noninterest bearing $75,000 note. Karel uses the effective interest method of Record the issuance of the note payable and the accrual of interest and amortization at need to compute the IRR of the note). What is the book value of this note at fiscal yea ANSWER: $ Entry for issuance: Entry at fiscal year end