Part 1 Mahdia Corporation bought a box truck for $160000 on September 1, 2020, by signing a promissory note. The terms of the note were 3%, 4 years, monthly payments of $3541 required. Record the journal entry for signing of the note. Start each entry on a starred row. Date General Journal Debit Credit 2. Record the journal entries for the first two payments on the note. Start each entry on a starred row. General Journal Debit Date Credit Part 2 Finn Corporation issued $600,000 of 8-year, 7% bonds with interest payable semiannually. The effective interest rate was 6% How much cash did Finn Corp. receive for the bonds? Use appropriate factor(s) from the tables provided. Round dollar amounts to the nearest dollar Present Value Single Table (PVS tab) Present Value-Annuity Table (PVA tab) Future Value Single Table (FVS tab) Future Value-Annuity Table (FVA tab) 1. Compute the present value of the bonds. (Round dollar amounts to the nearest dollar.) A. Calculate the amount of the semiannual interest payment on the bonds. (Enter the time factor in decimal form.) Principal Rate X Time Interest Payment x x B. Calculate the present value of the bonds (how much cash you'll get to borrow). Present value of the interest payments: Use Present or Single Payment Number of Interest rate per Factor Future Value table or Annuity interest periods interest period Payment amount Present or Future Value Present value of the face value: Use Present or Single Payment Future Value tabld or Annuity Number of Interest rate per interest periods interest period Factor Payment amount Present or Future Value Present value (cash value) of the bonds: Part 3 Note: The company in Part 3 is totally separate from the company in Part 2. Parts 2 and 3 of the exam are NOT connected to each other On May 1, 2022, Falcon Ine, issued S$50,000 of 12-year 5% bonds with interest payable semiannually on October 31 and April 30. The effective rate was 6%, and Falcon received $503,408 for the bonds Record the journal entry for the issuance of the bonds. Start each entry on a starred row. Dute General Journal Debit Credit 2. Record the journal entries for the first two interest payments on the bonds. (Use the effective interest amortization method.) Start each entry on a starred row. General Journal Date Debit Credit 3. Prepare the journal entry for the maturity date of the bonds. (Assume that the final interest payment has already been recorded.) Start each entry on a starred row. General Journal Date Debit Credit Present Value of S1 100% 150 2.00 2.50% 3.00% 150 MIT 4 50% 5.00 550". 6.00% 7,006 X 9 ore 10.00 11.00% 12.0096 20.00 0.8333 06446 Na Periods 1 2 1 4 5 6 7 0.970 0.9426 09151 ONES 0.9091 0.6264 0.751 0.6.0 0.6200 0. 090 0.7972 0.7118 06355 0.9301 0.9863 09706 0.9610 0.98 15 0.9420 0.9327 0.9235 09143 0.9051 08963 0.9524 070 08638 08227 0.7815 0.7462 0.7107 0,676 0.2009 0.8116 7112 0657 35 0.5346 4817 990 0.9852 0.9707 0.9563 0.9422 0.9283 09145 0.900 0.8877 0.8746 DNA 0.8489 08:164 0.5674 SLEKO ICINO 0.5132 0.4065 PLEXO TO 11 12 11 14 15 16 0.77 ORTNO NIIS 09804 0.9612 0.9423 0.92.38 0.9057 O.NO 0.8706 NSRS 0.80 O. 0.8043 0.7885 0.7730 0.7579 0.7420 0.724 0.7142 0.7002 0.68664 0.6730 0.659 0.64 0.6342 0.6217 0.6095 0.5976 0,5859 05744 0.5631 0.5521 0.9756 0.9515 019285 0.90 O.R19 4623 0.8413 209 1007 712 0.7621 0.7416 1.7254 07027 0.6905 0.6716 6572 0.4412 04155 06103 05954 0.5 05667 $529 5194 0.5262 05114 0.500 4857 0477 0.794 0.7664 0.7441 0.7224 0.7014 0.6810 0.6611 06419 0.6232 050 03574 0.5701 0.5537 03375 05219 0.5067 0:4919 0.9662 0335 09019 0.8716 0.8420 08135 0.7860 0.7594 0.7787 0.7089 0.6849 0.6618 0.6394 0.6178 0.500 0.5767 03572 0.53 0.5202 0.5026 0.4856 0.4692 0.4533 0.430 0.4231 0.4088 0.3950 0317 0367 0.1563 0.9259 08573 0.7438 0.7350 0606 0.6302 0.3535 0.5400 0.5000 0.46.12 04289 0.1971 0.1677 0.3405 07132 0.2919 0.2700 0.2500 0.9615 0.9246 0.89 0.85 0.8219 0.7903 0.7599 9.7802 0.70M 0.6756 0.00 0.6346 0.6006 0.5775 0.5553 0.511 0.5134 0.4936 0.4756 0.4564 0 438 0.0220 0.4057 0.3911 9.3751 0.3607 0.3468 01335 0.3207 0.3082 0.8700 08611 08528 08444 OX100 08277 0X195 OX114 N014 0.7954 0.7876 0.7799 0.7720 0.7644 0.7568 0.7493 0.7419 0.956 0.9137 0.8763 L6 08035 0.7679 07143 0.7032 01.6724 0.1419 0.6162 0897 0.5643 05-400 0.5167 0.4945 0.4732 14525 04111 0.4146 0.1965 1797 021634 1471 03127 184 3042 0.1916 02790 0.2670 0.619 0547 0.55 05101 05031 0.4810 04581 0.7999 0.7880 07764 0.7649 0.7536 0.7425 0.7315 0.7207 0.7100 0.1995 0,692 0.6790 0.6690 0,6591 0.6.194 0.619 0.9479 ON95 OXSA OND 0.7651 0.7252 0.6874 0.6516 0.6176 0.5854 0.5549 05260 0.4986 0.4726 0.4479 0.4346 0.4024 0.3815 0.3616 03427 01349 1079 0.2919 02767 0.2622 0.2486 0.2156 0.3213 02117 0.2006 0.9346 0.8734 EN16 07629 0.7130 . 0229 LSR20 05419 SOK 01.4751 04440 04150 0378 01624 01137 031 ON 0.2765 02534 0.2415 0.2257 02109 1971 0.1842 0.9444 0.89 0.8396 0.7921 0.7473 0.7050 0.6651 0.6274 0.5919 0.554 0.5268 0.4970 0.46 0.4421 0.4173 0.39% 0.3714 0.3501 0.105 03118 0.2942 0.2775 0.2618 0.2470 0,230 0.2198 0.2074 0.1956 0.1846 0.1741 09174 0.8417 0.7722 0.7084 0.6499 0.596 05470 0.5019 040014 0.4224 0.375 0.1555 01262 0.2992 0.2745 0.2519 0.2311 0.2120 0.1945 0.1784 01637 0,150 0.1378 01264 0.1160 0.1064 0.096 0.0895 0.0822 0.0754 17 - 1909 (13522 3173 02855 01.2575 02120 2090 11 16 015 01177 0.1240 01117 1007 0.0907 2017 11.0736 0:57x7 0.482 0.4019 01349 0_2791 0.2326 0.1918 0.1615 0.1346 01122 DONS 0.0770 0.0649 0.0541 0,0451 0.0376 0.031 0.0261 0.0217 DDIN 0.0151 0.0126 0.010 0.0087 0.007) 0.0061 0.0081 0.002 19 20 21 22 23 24 25 26 27 25 29 10 0.4341 0.JSS 0.350 0.1186 0.297 0.2631 02144 0.2176 0.1978 0.1799 0.1635 0.1486 0.1351 9,122 0.1117 0.1015 0,0921 0.08.19 0.0763 0.0093 0.06.0 0.0573 0.500 0.44523 0.4039 7606 0.1220 0_2875 0.2567 0.2292 0.2046 0.1827 0.1631 0.1456 0.1100 0.1161 0.1037 0.0926 0052 0,0738 0.0659 0.0588 0.0525 0040 0.0419 0.0194 0.0334 04133 03957 0.3764 03589 0.14IN 03256 03101 0.2953 0.2812 0.2678 0.2951 0.2429 02314 SLLTO| LETO 0.2143 0.1987 0.1839 0.1 700 0.1577 0.1400 0.1352 0.1252 0.1159 0.1073 0.0094 0.4502 04371 0.4243 944120 0.1609 0.1504 0.1406 0.1214 00597 0518 0045 11047 Present Value of an Ordinary Annuity of 1 5.50%. 6.00% 7.00 8.00 10.00% 11.00% No Periods 1 2 1 4 3 6 0.9091 1.7355 24869 0.9129 1.8463 2.6979 3.5052 4.2703 4.9955 5.6830 12.00% 0.8929 1.6901 2401 30373 3.6048 0.9124 1.7591 2.5313 3.2397 3.8897 4.4859 5.0330 3.5348 5.9952 6.4177 60S 7.1607 7 10 11 12 13 14 15 16 7.4869 1.50% 2.00% 2.50% 3.50% 4.00 4.50 5.00% 0.9901 0.95 0.9804 0.9756 0.9709 0.662 0.9615 0.95 0.9524 1.9704 1.9559 1.9416 1.9274 1.9135 1.1997 1.8861 1.5727 1859 29410 2.9122 2.8839 24 28286 2.2016 2.7751 2.7490 2.7212 1.9020 3.8544 3.8077 2.7630 3.7871 3.6299 3.5875 35400 48534 4.7826 4.7135 43797 43151 4.4518 43900 4.3295 5.7935 5.6072 5.6014 5.50 54172 5.3286 5.2421 5:1579 5.0757 6.72x2 6.5982 6.4720 63494 62303 6.1145 6.0021 S.1927 5.7164 76517 7.4859 7.3255 7.1701 7.0197 6.8740 6,7327 6.3959 6.4612 85660 83605 8.16) 7.9709 7.7861 7.6077 7.4353 226 7.107 94713 9.2222 8.9336 K 7521 X5102 8.3166 X 1100 7.9122 7.7217 10.3676 10071 9.7868 95143 93526 9.0016 8.7605 8529 87064 112351 10.9075 10.5753 10.2575 9.9340 9.6633 9.3851 9.11 ɣ 12.1337 11.7315 11 M 10.982 10.6350 10.3027 9.9856 9.3916 13.00 12.5434 12.1062 11.690 11.1961 109205 10.SI 12225 138651 13.3432 12.8493 12.814 18.9379 11.5174 IL1184 10.7395 103797 14.719 14.1313 13.5777 13.0550 12.5611 12.0941 11.6523 11.2940 101N 15 5623 14.9076 14.2919 13.7122 13.1661 12.6513 12.1657 11.7072 112741 16.793 15.6726 14.990 143514 13.7535 13.1897 12.6591 12.1600 ILS 172200 16.4262 15.0785 14.9789 143238 13.709 13.139 12.3933 12.0833 18.0456 17.1686 16.3514 15.5892 14775 142124 13.5903 1. 12.4622 18X570 17.9001 17.0112 16.1845 154150 14.6980 14,0292 18 4047 12.8212 19.6604 18.620 17.65 16.7654 15.9369 15.1671 14.4511 13.7844 13.16.30 20:55 19.3309 18.2922 17.3121 16-4436 15.6204 14.8568 14.1475 134886 21.2434 20.0004 18.91.19 17.685 169355 160584 15.2470 14.4955 13.7986 22.0212 20.7196 19.5235 186244 17.4131 16.4815 15.6221 14.12K2 14.0939 22.7952 21.3986 20.12.10 18.9506 178768 16,8904 15.9828 15.1456 143752 23 5596 22.0676 20.70619 19:4610 18 1270 17.2854 16.1296 15.4513 14.6430 241164 23.7267 21.2811 1999 18.7641 17.6670 16.6611 15.7429 14.898 25.0658 23.3761 21.8444 214515 19.1585 18.035 16.9837 15.1411 25.8077 24.0158 22.1965 20.9303 183920 17.292016 2880 15.3725 69522 7.5376 X0925 86185 9.1171 1.5896 10.0226 10.4622 10.8646 11.3461 11.0077 11.9504 12.2752 12.532 12.8750 13.1517 13.4139 13.6625 13.8981 14.1214 0.9434 1.8314 2.6700 3.4651 4.2124 49173 5.5824 6.2098 6.8017 7.3601 788670 X 3838 8.8527 9.2950 9.7122 10.1039 10.4773 10,8276 11.151 11.4699 11.7641 12.0416 12.30:34 12.5504 12.7634 13.0032 13.2105 13.4062 13.5947 19.7648 09346 0.9259 L.NO 1.7831 25771 3372 3.3121 4.1002 3.9927 4.765 4.6229 5.393 5 2064 5.971 5.7466 65152 6.240 7,6236 6.10 7.4957 7.1390 7.9427 7.5361 X 1577 7.9038 8.7455 82442 9.1079 85595 XXS14 9.7632 9,1216 10.0591 9.3719 10.3136 9.6036 10.3940 98181 10.8355 10,016 11.06.12 10.2007 11.2722 10.3711 11.69 10 52 11.6.536 10.6748 11.x250 10.100 11 967 10.9352 12.1371 11.0511 12.2777 11.1584 12.0090.11.2578 3.2018 4.3551 4.864 5.3349 5.7590 6.1456 6,4951 6.8117 7.104 7167 7,6061 7.8237 8,0216 8.2014 8.3649 X.SIM 8.647 8.7715 .8832 8.9847 9,0770 7.7862 X0607 3126 X5416 &7556 8.9501 9.1285 9.2922 9.4424 9.5802 9.7066 9,8226 9.9290 10.0266 101161 10.1987 10.2757 17125 2.4417 3.1024 3.959 47105 47132 5.1461 55170 Sk892 2065 6.4934 6.79 6.99 7.1909 7.3792 75485 7.7016 7.8393 7.9633 8.0751 3.1757 264 8.3483 8.4217 XARRI 8.5475 016 X 6501 91 4.5638 4.9676 51282 5.6502 5.9377 6.1944 6235 6.62X3 68109 6.9740 7.119 72497 7.3658 7401 7.5620 7.6146 7.7184 7.7843 78431 7.8957 7.9426 7.9544 8.0218 20.00 08:33 1.5278 2.1065 2.5867 2.9906 3.1255 3,6046 3.8372 4.0110 4.1925 43271 44992 4.5327 4.6106 4.6755 4.7296 4.7746 4.8122 4.8455 4.8696 48913 4.94 4.9245 4.9371 4.9476 4.9563 4.9.16 4.9697 4.9747 49789 19 20 21 22 23 24 25 26 22 25 9.2372 9.1066 143331 30 143357 9.4 Future Value of Si 1.00%. 2.00% 2.50 3.00 4.14 45044 SH 3.504 1.00% 7.00 00% 9.00 11.00% 12.00% 20.00 No Periode 1 2 3 4 5 1.0700 1.0250 1.0506 3.50% 10350 10712 1.1007 1.1475 LITT 1,0450 1,0920 1.72 1010 10201 1.0303 1 000 10510 10615 14721 10R24 1097 11016 1 1199 150 10150 1010 1.0457 1.0014 1.0773 1.0914 1109N 11265 1.1414 11605 1.1970 1.1956 10100 1. 10927 1.1255 1 1581 1.1941 1299 12 1.1013 14419 LCD 1.1216 1.1910 125 11 1418 1.5616 1.5918 10.00% 1100) 12100 1.1310 1.11 1.6108 1.7710 1947 21436 7 X 9 10 21579 NYIT 12116 100 1.ON16 1.1249 1.1699 1.2167 1.2653 1.31SY 1.1686 1.42.12 1.4102 1.5105 10010 16651 17117 1.00 1.NO 1.9419 2,025 2.1068 2.1911 2.2788 2.1699 12 11 14 15 16 12 IN 1.0200 1,0404 1.0612 1.OK24 1.1041 1. 1262 1.142 1.1717 1.1951 1.2190 1.2414 1.262 2016 1195 1.1459 1.372N 1.4002 1:42N2 1.450 1.459 1.5152 1540 1.5760 1.6094 1.6406 1.6714 1.7069 1.7410 1.275N 18114 1100 1.1314 1.1597 1187 1.21N4 1249 1.2001 13121 1.1449 1 175 1.4110 1.441 145 1.5210 1.5597 1.597 1.686 1.676 1.7216 1.76.16 10? 1.8519 1. 1.9478 1.995 2016 2.0776 1.2318 1.2502 1.2000 1.2 1.1073 11270 1.3460 13671 1.1876 1.04 1.4295 1.4509 11405 1.1610 1.1726 LIRAN 1.1961 1.20N 1.2202 1.2134 1.2447 1.2572 2191 12-24 12953 1. MON 11211 11 1178 1.2723 1.316 1.44629 14100 14 15111 1.500 LAINT 16753 1.710 1.7947 1.8575 1.9325 1.99 2014 2.1313 22061 2.2013 1.4258 1465 1.5126 1.5580 1.6017 1.602 1.7024 1.7315 1X051 1 1 9161 19716 20125 2018 2.1146 22213 2219 21566 2.4973 1.1925 1.2462 1.023 1.3609 1.4221 1.4861 1.5580 1,6229 1.6959 1.9722 IS19 1.9333 2.0924 2114 2.2015 2.1079 24117 2.5203 2011 2.7522 2.760 3.0054 3.1407 3.2820 1.4297 3.540 3.7458 1.000 1.1025 L1576 1.2155 12763 13401 1.4071 14775 1.5511 IARY 1.7103 1.7959 1856 10790 20789 ZIN29 22920 24066 25270 20539 2760 29251 10715 2251 1 1864 15359 1.7335 19201 41161 4.3219 1.0350 1.1110 1.1742 12 13070 13788 14547 1.3347 1.6191 1.70 12021 1.9012 2005 2.1161 22335 21551 2484 2.6215 2.7656 2.917 10782 1.2475 14262 16146 18114 10211 42444 4417 4.7241 49540 1905 1. 2.0122 2.1329 2.2470 2.39 2.5.2014 2.1925 2.543 1005 3.2071 3 1.115 1197 40 42919 4.59 48223 5.1117 544184 5.7415 10900 LINNI 12950 1.4116 LSIN 16771 LN20 1.9926 2.1719 23674 2.5804 28127 105N 11417 1.425 19701 4.1276 47171 5.1417 5.6044 ION AN 72579 7.9111 1.2250 13108 1.4126 1.5607 LAOS 1.7182 1.KIS 1.9673 2.1040 2.2522 2009 2.575 2.7590 2,0522 2.158 3.3799 26165 3.7 4.1405 44104 4.7405 5.0724 5.4274 S.200 6.2119 6.64 7,1141 7,612) 1.000 1.1664 1.2597 1.3005 1.4693 1.5869 1.7138 1.8509 19990 2.159 2016 2.5182 2.7196 2.0172 1.1722 1.4259 1.7000 3.9960 41159 46610 5.0818 5415 5.R15 1412 MS 7.94 7.98 N.271 3171 10.0427 75917 28511 3.134 1.4521 1.7973 41772 45950 5.0545 3.559 61159 67275 74002 1401 8.9541 1497 104147 11.912 12.1100 144218 15 31 17.40 1.1100 12321 13676 1 SINI 16 1.5704 2.6762 2015 2.5580 2014 1.1518 145 18:11 41104 4.746 3.3109 5.8951 654436 7211 23 1992 99116 11661 12.293 12.555 15.0799 16.7186 IR 20.4217 311 11200 1.20 1.2544 1.44 14049 15739 2.07 1.1 2.48 1.9735 22107 3.5 2.470 4.29 2.7731 5.15 1.1058 6.19 14785 24 3.96 N91 415 100 4871 1281 54736 15:40 61104 IN 4 66 22.IN 700 N6125 21.94 9.646 10 NON 46.00 12.1001 SS 20 13.5593 24 15 1786 19:49 17.0001 95.90 19.0001 11444 21224913717 21 19 164 74 197 NI 29.959 23737 22 23 24 25 26 2.665 2.7725 1494 1.5172 1.560 1.561 2.440 2.5116 2002 2.7119 2.997 1 TINY 9.1992 10 2431 11 1671 12.1722 112677 REISE WEEK SITE 0 w WIDER DHE ROL ww HI 1 w UL MI CINE De 11 WWW DELSE WORDLES CHRYSLER CIN UN SHEM S TL LIL M 41 HD IF DOWN ON WARM 1 11 CHI TE BUL 10 VE C NS MED 20 NENO 11 11 WEEKER GERE MT C D Ni 11 MA HA DAN 1360 WWW wem Oil KR BE 1 + www WIRT