On 1 January 20X9, a borrower signed a long term note, face amount. $1.600.000, time to maturity, three years stated rate of interest. 3%. The effective rate of interest of 7% determined the cash received by the borrower. The principal of the note will be paid at maturity, stated interest is due at the end of each year (evo $1. PVA R$1. and PVAD OLS1) (Use appropriate foctor(s) from the tables provided.) Required: 1. Compute the cash received by the borrower. (Round time value foctor to 5 decimal places. Round your intermediate calculations and final answer to the nearest dollar amount.) Cash received 2. Give the required entries for the borrower for each of the three years. Use the effective interest method (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the amount borrowed on long term note. Note: Enter debts before credits Dato General Journal Debit Credit 1 January 20X0 View transaction list Journal entry worksheet Record the interest on note. Note: Enter debits before credits General Journal Debit Credit Date 31 December 20X9 View transaction list Journal entry worksheet Record the interest on note. Note: Enter debits before credits General Journal Debit Credit Date 31 December 2010 View transaction list Journal entry worksheet Record the interest on note. Note: Enter debits before credits Date General Journal Debit Credit 31 December 20X11 View transaction list Journal entry worksheet Record the discharge of note. Note: Enter debits before credits Date General Journal Debit Credit 31 December 20X12