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TABLE 14A.2 Present Value of an Annulty of 1 Period Rate Periods 18 2% 3% 5% 7% 9% 10% 12% 15% 1 2 3 4

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TABLE 14A.2 Present Value of an Annulty of 1 Period Rate Periods 18 2% 3% 5% 7% 9% 10% 12% 15% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 30 35 40 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.8929 0.8696 1.9704 1.9416 1.9135 1.8861 1.8594 1.8334 1.8080 1.7833 1.7591 1.7355 1.6901 1.6257 29410 2.8839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4869 2.4018 2.2832 3.9020 3,8077 3.7171 3.6299 3.5460 3.4651 3.3872 3.3121 3.2397 3.1699 3.0373 28550 4,8534 4,71354.5797 4.4518 4.3295 4.2124 4.1002 3.9927 3.8897 3.7908 3.6048 33522 5.7955 5.6014 5.4172 5.2421 5,0757 4.9173 4.7665 4,6229 4,4859 4.3553 4.1114 3.7845 6.7282 6.4720 6.2303 6.0021 5.7864 5.5824 5.3893 5.2064 5.0330 4.8684 4.5638 4.1604 7.6517 7.3255 7.0197 6.7327 6.4632 6.2098 5.9713 5.7466 5.5348 5.3349 4.9676 4.4873 8.5660 8.1622 7.7861 7.4353 7.1078 6.8017 6.5152 6.2469 5.9952 5.7590 53282 4.7716 9.4713 8.9826 8.53028.1109 7.7217 7.3601 7.0236 6.7101 6.4177 6.1446 5.6502 50188 10.3676 9.7868 9.2526 8.7605 8.3064 788697.4987 7.1390 6.8052 6.4951 5.9377 5,2337 11 2551 10.5753 9.9540 9.3851 8.8633 8.3838 7.9427 7.5361 7.1607 6.8137 6.1944 5.4206 12.1337 11.3484 10.6350 9.9856 9.3936 8.85278.3577 7.9038 7.48697.1034 6.4235 5.5831 13.0037 12.1062 11.2961 10.5631 9.8986 9.2950 8.74558.244277862 73667 6.6282 5.7245 13.8651 12 8493 11.9379 11 1184 10.3797 9.7122 9.1079 8.5595 8.0607 7.6061 6.8109 5.8474 14.7179 13.5777 125611 11,6523 10.8378 10.1059 9.4466 8.8514 8.3126 7.8237 6.9740 5.9542 15.5623 14 2919 13.1661 12.1657 11.2741 10 4773 9.7632 9.1216 8.5436 8.0216 7.1196 6.0472 16.3983 14 9920 13.7535 12.6593 11.6896 10.8276 10.05919.3719 8.7556 8.2014 7.2497 6:1280 17 2260 15.6785 14 3238 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 83649 73658 6.1982 18.0456 163514 14 8775 13.5903 12 4622 11 4699 10.5940 9.8181 91285 8.5136 74694 6.2593 22.0232 19.5235 17.4131 15.6221 14.0939 12.7834 11 6536 10.6748 98226 9,0770 7 8431 6.4641 25.8077 223965 19 6004 17 2920 15 3725 13.7648 12 4090 11.2578 10.2737 9,4269 80552 65660 29.4086 24.9986 21.4872 18.6646 16 3742 14.4982 12.9477 116546 10.5668 9.6442 8. 1755 6.6166 32.8347 27 3555 23.1148 19.7928 17.1591 15.0463 13,3317 11 9246 10.7574 9.7791 8.2438 6.6418 On November 30, 2020. Calla Resources Ltd. borrowed $160,000 from a bank by signing a four year installment note bearing interest at 12%. The terms of the note require equal payments each year on November 30, starting November 30, 2021. Use TABLE 14A 2 (Use appropriate foctor(s) from the tables provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate calculations, Round the final antwer to the nearest whole dollar) $ 52.678 2. Complete an installment note amortization schedule for this note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts os positive values.) Period Ending Nov 3021 Nov 30/22 Nov 30/23 Nov. 30/24 Totals Payments Beginning Period Interest Debit Credit Ending Balance Expense Notes Payable Cash Balance 160,000 $ 19 2007 33 4785 52.6785 126 522 126 522 15,183 37 406 52.678 89026 89,026 10 683 41 995 52,678 47031 47031 5.644 47031 52.678 0 50.7105 160,000 $ 210,712 O i earch acer Helo Seve 3. Present the journal entries that Calla would make to record accrued interest as of December 21, 2020 the end of the anal reporting period), and the first payment on the note. (Do not round Intermediate calculations. Round the final onwers to the nearest whole dollar.) View transaction list Record the accused interest on the tallment note payable Record the first payment made on installment note. Credit B 10 52 078 Note: Journal entry has been entered Record entry Clear entry View general journal CP earch 4. Now assume that the note does not require equal payments but does require four payments that include accrued interest and an equal amount of principal in each payment. Complete an installment note amortization schedule for this note. Present the journal entries that Calla would make to record accrued interest as of December 31, 2020 (the end of the annual reporting period). and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Payments Period Ending Beginning Balance Period Interest Expense Debit Notes Payable Credit Cash Ending Balance Nov. 30/21 Nov. 30/22 Nov 30/23 Nov 30 24 Totals 0 $ 0 $ ols 0 View transaction list Search O BE View transaction list x 1 Record the accrued interest on the installment note payable. 2 Record the first payment made on installment note. Credit Note: = Journal entry has been entered Record entry Clear entry View general journal

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