On July 1, 2020, Marin Inc. made two sales: 1. It sold excess land in exchange for a four-year, non-interest-bearing promissory note in the face amount of $1,165,880. The land's carrying value is $640,000. It rendered services in exchange for an eight-year promissory note having a face value of $480,000. Interest at a rate of 2% is payable annually. 2. The customers in the above transactions have credit ratings that require them to borrow money at 11% interest. Marin recently had to pay 7% interest for money it borrowed from British Bank. 3. On July 1, 2020, Marin also agreed to accept an instalment note from one of its customers in partial settlement of accounts receivable that were overdue. The note calls for four equal payments of $21,000, including the principal and interest due, on the anniversary of the note. The implied interest rate on this note is 9%. Present Value of 1 (n) periods 1 2 3 4 5 6 7 8 9 10 2% 212% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 0.98039 0.97561 0.97087 0.96156 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.86957 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.87344 0.85734 0.84168 0.82645 0.81162 0.79719 0.75614 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.81630 0.79383 0.77218 0.75132 0.73119 0.71178 0.65752 0.92385 0.90595 0.88849 0.85480 0.82270 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.57175 0.90583 0.88385 0.86261 0.82193 0.78353 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.49718 0.88797 0.86230 0.83748 0.79031 0.74622 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.43233 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.37594 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.32690 0.83676 0.80073 0.76642 0.70259 0.64461 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.28426 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.24719 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.21494 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.44401 0.39711 0.35554 0.31863 0.28584 0.25668 0.18691 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.41496 0.36770 0.32618 0.28966 0.25751 0.22917 0.16253 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.14133 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.12289 0.72845 0.67362 0.62317 0.53391 0.45811 0.39365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.10687 0.71416 0.65720 0.60502 0.51337 0.43630 0.37136 0.31657 0.27027 0.23107 0.19785 0.16963 0.14564 0.09293 0.70016 0.64117 0.58739 0.49363 0.41552 0.35034 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.08081 0.68643 0.62553 0.57029 0.47464 0.39573 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.07027 0.67297 0.61027 0.55368 0.45639 0.37689 0.31180 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.06110 11 12 13 14 15 16 17 18 19 20 Present Value of an Annuity of 1 PV=1-1(1+i)ni (n) Periods 3% 1 2 3 4 5 6 7 8 9 10 2% 21/2% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 0.98039 0.97561 0.97087 0.96154 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.86957 1.94156 1.92742 1.91347 1.88609 1.85941 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.62571 2.88388 2.85602 2.82861 2.77509 2.72325 2.67301 2.62432 2.57710 2.53130 2.48685 2.44371 2.40183 2.28323 3.80773 3.76197 3.71710 3.62990 3.54595 3.46511 3-38721 3.31213 3.23972 3.16986 3.10245 3.03735 2.85498 4.71346 4.64583 4.57971 4.45182 4.32948 4.21236 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 3-35216 5.60143 5.50813 5.41719 5.24214 5.07569 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 6.47199 6.34939 6.23028 6.00205 5.78637 5.58238 5-38929 5.20637 5.03295 4.86842 4.71220 4.56376 4.16042 7-32548 7.17014 7.01969 6.73274 6.46321 6.20979 5.97130 5.74664 5.534825-33493 5.14612 4.96764 4.48732 8.16224 7.97087 7.78611 7.43533 7.10782 6.80169 6.51523 6.24689 5.99525 5.759025-53705 5.32825 4.77158 8.98259 8.75206 8.53020 8.11090 7.721737-36009 7.02358 6.71008 6.41766 6.14457 5.88923 5.650225.01877 9.78685 9.51421 9.25262 8.76048 8.30641 7.88687 7.49867 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 10.57534 10.25776 9.95400 9-38507 8.86325 8.38384 7.94269 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 11.34837 10.98319 10.63496 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 5-58315 12.10625 11.69091 11.29607 10.56312 9.89864 9.29498 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 5.72448 12.84926 12.38138 11.93794 11.11839 10.37966 9.71225 9.10791 8.55948 8.06069 7.60608 7.19087 6.81086 5.84737 13.57771 13.05500 12.56110 11.65230 10.83777 10.10590 9.44665 8.85137 8.31256 7.823717-37916 6.97399 5.95424 14.29187 13.71220 13.16612 12.16567 11.27407 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 6.04716 14.99203 14.35336 13.75351 12.65930 11.68959 10.82760 10.05909 9.37189 8.75563 8.20141 7.70162 7.24967 6.12797 15.67846 14.97889 14.32380 13.13394 12.08532 11.15812 10.33560 9.60360 8.95012 8.36492 7.839297.36578 6.19823 16.35143 15.58916 14.87747 13-59033 12.46221 11.46992 10.59401 9.81815 9.12856 8.51356 7.96333 7.46944 6.25933 11 12 13 14 15 16 17 18 19 20 Prepare the journal entries to record the three notes receivable transactions of Marin Inc. on July 1, 2020. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answers to decimal places, e.g. 58,971. 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.) No. Account Titles and Explanation Debit Credit 1. 2. 3. Prepare an instalment note receivable schedule for the instalment note obtained in partial collection of accounts receivable. (Round answers to 0 decimal places, eg. 58,971.) Cash Collected Instalment Note Receivable Schedule Interest Principal Revenue Collected Note Carryii Amount Date $ $ $ July 1 2020 July 1 2021 July 1 2022 July 1 2023 July 1 2024