TABLE PV.2 Present Value of an Annuity of 1 PV = 1- (40 2/ % (n) Periods 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 0.97087 0.94340 0.90090 1 0.98039 0.97561 0.96154 0.95238 0.93458 0.92593 0.91743 0.90909 0.89286 0.86957 1.71252 2. 1.94156 1.92742 1.91347 1.88609 1.85941 1.83339 1.80802 1.78326 1.75911 1.73554 1.69005 1.62571 2.85602 2.77509 2.72325 2.53130 2.44371 3 2.88388 2.82861 2.67301 2.62432 2.57710 2.48685 2.40183 2.28323 3.80773 2.85498 4 3.76197 3,71710 3,62990 3,54595 3,46511 3.38721 3,31213 3.23972 3.16986 3.10245 3,03735 4.10020 3.99271 4.71346 4.64583 4.57971 4.45182 4.32948 4.21236 3.88965 3.79079 3.69590 3.60478 3,35216 5 5.50813 4.62288 4.35526 6 5.60143 5.41719 5.24214 5.07569 4.91732 4.76654 4.48592 4.23054 4.11141 3.78448 6.47199 6.00205 5.58238 7 6.34939 6.23028 5.78637 5.38929 5.20637 5.03295 4.86842 4.71220 4.56376 4.16042 7.17014 5.33493 8 7.32548 7,01969 6.73274 6.4632 6.20979 5.97130 5.74664 5.53482 5.14612 4.96764 4.48732 7.97087 7.10782 6.80169 6,51523 6.24689 9 8.16224 7,78611 7.43533 5.99525 5.75902 5.53705 5.32825 4.77158 8.75206 7.36009 6.14457 5.01877 10 8.98259 8.53020 8.11090 7.72173 7.02358 6.71008 6.41766 5.88923 5.65022 8.30641 7,88687 7,13896 11 9.78685 9.51421 9.25262 8.76048 7.49867 6.80519 6.49506 6.20652 5.93770 5.23371 12 10.57534 10.25776 9.95400 9.38507 8.86325 8.38384 7.94269 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 11.34837 9.98565 8.85268 8.35765 7.90378 6,74987 13 10.98319 10.63496 9,39357 7.48690 7.10336 6.42355 5.58315 14 12.10625 11.69091 11.29607 10.56312 9.89864 9,29498 8.745478.24424 7.78615 7.36669 6.98187 6.628175.72448 8.55948 8.06069 7,60608 15 12.84926 12.38138 11,93794 11.11839 10.37966 9,71225 9.10791 7.19087 6.81086 5.84737 13.57771 10.83777 6 13.05500 12.56110 11.65230 10.10590 9.44665 8.85137 8.31256 7.82371 7.37916 6.97399 5.95424 10.47726 7.11963 14.29187 13.71220 13.16612 12.16567 11.27407 9.76322 9.12164 8.54363 8.02155 7.54879 6.04716 12.65930 10.82760 8.75563 18 14.99203 14.35336 13.75351 11.68959 10.05909 9.37189 8.20141 7.70162 7.24967 6.12797 15,67846 14.97889 11.15812 10.335609.60360 8.95012 7,83929 19 14.32380 13.13394 12.08532 8.36492 7.36578 6.19823 14.87747 12.46221 20 16.35143 15.58916 13.59033 11.46992 10.59401 9,81815 9.12856 8.51356 7.96333 7.46944 6,25933 7 TABLE PV.I Present Value of 1 (n) periods 2% 2/2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 0.9756 0.92593 0,90909 0.98039 1 0.97087 0.96156 0.95238 0.94340 0.93458 0.91743 0.90090 0.89286 0.86957 0,81162 0.85734 0.84168 0.82645 2 0.96117 0.9518 0.94260 0.92456 0.90703 0.89000 0.87344 0.79719 0.75614 0.94232 0.92860 0.81630 0.79383 0.91514 0.88900 0.86384 0.83962 0.77218 0.75132 0.73119 0.71178 0.65752 0.92385 0.82270 0.65873 0.63552 0.57175 4 0.90595 0.88849 0.85480 0.79209 0.76290 0.73503 0.70843 0.68301 0.88385 0.86261 0.78353 0.74726 0.71299 0.64993 0.49718 5 0.90583 0.82193 0.68058 0.62092 0.59345 0.56743 0.86230 0.74622 6 0.88797 0.83748 0.79031 0.70496 0.66634 0.63017 0,59627 0.56447 0.53464 0.50663 0,43233 0.75992 0.71068 0.66506 0.48166 0.37594 7 0.87056 0.84127 0.81309 0.62275 0.58349 0.54703 0.51316 0.45235 0.78941 0.67684 0.58201 0.54027 0.50187 0.43393 8. 0.85349 0.82075 0.73069 0.62741 0.46651 0.40388 0.32690 0.6446 0.70259 0.54393 0.50025 0.42410 0.39092 0.3606 0.28426 9 0.83676 0.80073 0.76642 0.59190 0.46043 0.74409 0.46319 0.32197 10 0.82035 0.78120 0.67556 0.61391 0.55839 0.50835 0.42241 0.38554 0.35218 0.24719 0.42888 11 0.80426 0,76214 0.72242 0.64958 0.58468 0.52679 0.47509 0.38753 0.35049 0.31728 0.28748 0.21494 0.44401 12 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.35554 0.31863 0.28584 0.25668 0.18691 0.72542 0.68095 0.32618 0.25751 13 0.77303 0.60057 0.53032 0.46884 0.41496 0.36770 0.28966 0.22917 0.16253 0.66112 0.57748 0.26333 0.20462 0.14133 14 0.75788 0.70773 0.50507 0.44230 0.38782 0.34046 0.29925 0.23199 0.27454 0.20900 15 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.36245 0.31524 0.23939 0.18270 0.12289 0.62317 0.45811 0.33873 0.10687 16 0.72845 0.67362 0.5339 0.39365 0.29189 0.25187 0.21763 0.18829 0.16312 0.43630 0.31657 17 0.71416 0.65720 0.60502 0.51337 0.37136 0.27027 0.23107 0.19785 0.16963 0.14564 0.09293 0.58739 0.35034 0.29586 0.25025 0.13004 0.08081 18 0.70016 0.64117 0.49363 0.41552 0.21199 0.17986 0.15282 0.68643 0.62553 0.47464 19 0.57029 0.39573 0.3305 0.2765 0.2317 0.19449 0.1635 0.13768 0.11611 0.07027 0.61027 0.25842 0.21455 0.10367 20 0.67297 0.55368 0.45639 0.37689 0.31180 0.17843 0.14864 0.12403 0.06110 Question 2 Blossom Engineering Corporation purchased conveyor equipment with a list price of $50,100. Three independent cases that are related to the equipment follow. Assume that the equipment purchases are recorded gross 1. Geddes pald cash for the equipment 25 days after the purchase, along with 5% GST (recoverable) and provincial sales tax of $3,507, both bassed on the purchase price. The vendor's credit terms were 3/10, n/30. 2. Geddes traded in equipment with a book value of $2,100 (initial cost $39,500) and paid $40,300 in cash one month after the purchase. The old equipment could have been sold for $8,300 at the date of trade but was accepted for a trade-in allowance of $9,800 on the new equipment 3. Geddes gave the vendor a $9,900 cash down payment and a 11% note payable with blended principal and interest payments of $20,100 each, due at the end of each of the next three years Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Prepare the general journal entries to record the acquisition and the subsequent payment, including any notes payable, in each of the three independent cases above. For item 3, use a table, financial calculator, or Excel. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit 1 (To record purchase of equipment on credit.) (To record payment to the vendor) 2 2. (To record exchange of equipment.) (To record payment to the vendor.) 3. (To record purchase of equipment on credit.) First Payment on Note (To record payment to the vendor.) Second Payment on Note (To record payment to the vendor.)