Problem 7-08 On December 31, 2020, Riverbed Inc. rendered services to Beghun Corporation at an agreed price of $106,288, accepting $42,200 down and agreeing to accept the balance in four equal installments of $21,100 receivable each December 31. An assumed interest rate of 12 is imputed. Prepare an amortization schedule. Assume that the effective interest method is used for amortization purposes. (Round answers to decimal places, e.g. 5,275.) December 31, 2020 Schedule of Note Discount Amortation Cash Interest Received Revenue Carrying Amount of Note 64083 Date 12/31/20 12/31/21 12/31/22 12/31/23 21100 21100 21100 12/31/24 21100 Prepare the entries that would be recorded by Riverbed Inc. for the sale on December 31, 2020. (Round answers to decimal places, e.g. 5,275. If no entry is required, select for the account titles and enter for the amounts Credit account titles are automatically indented when the amounts entered. Do not indent manually.) Account Ticles and Explanation Crede Cash 42200 Notes Receivable Discount on Notes Receiva Service Revenue 106288 Prepare the entries that would be recorded by Riverbed Inc. for the (a) receipts and (b) interest on December 31, 2021. (Round answers to decimal places g. 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debat No. Account Titles and Explanation (a) Cash 21100 Notes Receivable 21100 (5) Discount on Notes Receiva 7691 interest Revenue 7591 Prepare the entries that would be recorded by Riverbed Inc. for the (a) receipts and (b) interest on December 31, 2022. (Round answers to o decimal places, e.g. 5,275. If no entry required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not inde manually.) No. Account Titles and Explanation Debit Credit (a) Cash 21100 Notes Receivable 21100 (6) Discount on Notes Receiva Interest Revenue Prepare the entries that would be recorded by Riverbed Inc. for the (a) receipts and interest on December 31, 2023. (Round answers to decimal places, eg. 5,275. I no entry is required, select "No Entry for the account titles and enter for the amounts. Credit accountries are automatically indented when the amount is entered. Do not indent manually) Debit Credit No. Account Titles and Explanation (a) Cash 21100 Notes Receivable (6) Discount on Notes Receiva Interest Revenue Prepare the entries that would be recorded by Riverbed Inc. for the (a) receipts and (b) interest on December 31, 2024. (Round answers to decimal places, e.g. 5,275. If no entry required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) Debit Crede No. Account Tities and Explanation () Cash 21100 21100 (D) Discount on Notes Receiva Interest Revenue