Remaining Time: 1 hour. 37 minutes 58 seconds. - Question Completion Statut QUESTION 7 On December 31, 2019. Green Company finished consulting services for a client and accepted in charge a promissory note with a face value of $800,000, a due date of December 31, 2022. and a stated rate of sh with interest recevable at the end of each year. The fare of the services cannot be readily determined and the note is not readily marketable under the Orcumstances, the note is considered that appropriate imputed rate of interest of 104. A schedule of the note amortization follows Schedule of Note Discount Amortization Cash Effective Discount Carrying Date Interest Interest Amortized 12/31/19 $700.530 12/31/20 $ 40,000 $ 70.053 $30.053 730.583 12/31/21 40.000 73,058 33.058 763.641 12/31/22 40.000 75.359 36.359 300.000 $120.000 5219 470 599 420 1) What is the total amount of cash Green will collect over the life of the note in principle and interest? 2) What is the total amount of interest revenue Green will recognize (report as income) over the life of this note? 3) Prepare the journal entry to record issuance of the note on 12/31/19 {> TTT Aral 3112pt) Word Pathop A