Please if you are not going to answer those two question, please do not bother doing it.

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Chec On January 1, 2021, the Apex Company exchanged some shares of common stock it had been holding as an investment for a note receivable. The note principal plus interest is due on January 1, 2022. The 2021 income statement reported $3,630 in interest revenue from this note and a $7,300 gain on sale of investment in stock. The stock's book value was $29,000. The company's fiscal year ends on December 31. Required: 1. What is the note's effective interest rate? 2. Reconstruct the journal entries to record the sale of the stock on January 1, 2021, and the adjusting entry to record interest revenue at the end of 2021. The company records adjusting entries only at year-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the note's effective interest rate? 96 Effective interest rate Required 2 > Prey 11 of 19 Next > C On January 1, 2021, the Apex Company exchanged some shares of common stock it had been holding as an investment for a note receivable. The note principal plus interest is due on January 1, 2022. The 202f income statement reported $3,630 in interest revenue from this note and a $7,300 gain on sale of investment in stock. The stock's book value was $29,000. The company's fiscal year ends on December 31 Required: 1. What is the note's effective interest rate? 2. Reconstruct the journal entries to record the sale of the stock on January 1, 2021, and the adjusting entry to record interest revenue at the end of 2021. The company records adjusting entries only at year-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Reconstruct the journal entries to record the sale of the stock on January 1, 2021, and the adjusting entry to record interest revenue at the end of 2021. The company records adjusting entries only at year-end. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 1 2 Record the sale of the stock on January 1, 2021. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal 2 Record interest revenue at the end of 2021. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Recordi entry Clear entry View general jou CH Mountain High Ice Cream Company transferred $62,000 of accounts receivable to the Prudential Bank. The transfer was made without recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10%. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $5,200) less a 2%fee (2% of the total factored amount) Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) View transaction list Journal entry worksheet Record the transfer of accounts receivable