On January 1, Alan King decided to deposit $59,100 in a savings account that will provide funds four years later to send his son to college. The savings account will earn 9% annually. Any interest earned will be added to the fund at year-end (rather than withdrawn). (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

Required: 1. How much will be available in four years? (Round your answer to nearest whole dollar.) Available amount 2. Prepare the journal entry that Alan should make on January 1. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry worksheet Record the deposit to the savings account on January 1. Date General Journal Debit Credit January 01 No journal entry required Accounts payable Cash Income taxes payable Interest expense Enter debits before credits Interest payable Interest revenue done record entry Liability for withholding taxes