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NEVER MIND DONT ANSWER !!!! i figured it out and want my chegg question back JUU TUM MASU LO *For all PV calculations, use the
NEVER MIND DONT ANSWER !!!! i figured it out and want my chegg question back
JUU TUM MASU LO *For all PV calculations, use the tables presented in #1 above. On January 1, 20x1, ABC rendered services to Smith Corporation and accepted a $200,000, 5 year note. In exchange, Smith agreed to make quarterly payments of P&l at the end of each Mar, Jun, Sept and Dec, with the first payment to be made on March 31, 20x1. An interest rate of 8% is imputed. Required: Use the information above to answer the next (4) questions: $[Question_1] 1. Determine the amount of (1) PMT of P&I 2. What amount of Service Revenue should ABC recognize on January 1, 20x1? 3. What amount of Interest Revenue should ABC recognize on this note for the year ending December 31, 20x3? (Hint: Use the Short-cut method) 4. What is the Carrying Value of the Note Receivable at December 31, 20x2? (Hint: Use the short cut method) Required: Determine the amount of (1) PMT of P&I: sensitive and will mark your answer incorrect due to rounding and AU punctuation.) Due to possible rounding differences, all answer solutions are programmed as acceptable that are +/- 1. For example, if the correct answer is $54,372, all possible answer solutions that would be accepted would be 54,371, 54372, and 54,373. PV of $1 Periods 3 5 8 10 12 20 .94 .91.85 82 79.67 4% .89.82 73.68 .62 46 6% .84 .74 .63 56 .50 31 8% 79 .68 .55 46.39.21 9% .77 .65 50 42 36 .18 2% Present Value of an ordinary Annuity 2.88 4.71 7.33 8.98 10.58 16.35 2.77 4.45 6.73 8.11 9.38 13.59 2.67 4.21 6.21 7.36 8.38 11.47 2.57 3.99 5.75 6.71 7.54 9.82 2.53 3.89 5.53 6.41 7.16 9.13 9% Step by Step Solution
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