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The following notes receivable are issued for cash with the following terms: First Name Begins with A-D E- H I-L Principal $ 4,000,000 Maturity (years)

The following notes receivable are issued for cash with the following terms:
First Name Begins with A-D E- H I-L
Principal $ 4,000,000
Maturity (years) 4
Interest rate 4%
Required rate 6%
a. Find the present value of the note
b. Record the note receivable
c. Prepare an amortization schedule
d. Prepare the interest entries for the first 3 years
Use present value tab for present values
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