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Puppy Co. receives a 3-year, $ 240,000 note with a stated interest rate of 5% on 1/1/2020. The market rate of interest is 8 %

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Puppy Co. receives a 3-year, $ 240,000 note with a stated interest rate of 5% on 1/1/2020. The market rate of interest is 8 % and the present value (price) of the note is $221,445 on 1/1/2020. Complete the partial discount amortization table based on the effective interest method by filling in the missing amounts in boxes (1)- (4). The price has been entered in the table. Round your answers to the nearest dollar in the table. (6 points total) Date Cash interest receipt Interest revenue Discount amortized Carrying value of note 1/1/2020 $221,445 12/31/2020 (1) ? (2) ? (3) ? (4) ? Answer: (1): A (2): A (3): A (4)

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