The government lent $180,000 to Splish Industries, who signed a 5-year, zero-interest note dated January 1, 2024 to help finance the construction of a building. The market rate of interest is 8% and the effective interest method of amortization is used. The loan will be forgiven if Splish provides employment for a specified number of individuals for a specified period of time. If these conditions are not met, the amount is due to the government in full in five years. Splish believes it will be able to meet the conditions. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ORDINARY ANNUITY OF 1. Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount of cash received by Splish, who follows IFRS. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places e.g. 58,971. Cash received $ Prepare the journal entry for the issue of the note on the books of Splish. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Prepare the entry for at December 31, 2024, the fiscal year end of the company. (Round answer to 0 decimal places, e.g. 5,275. Credi 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. List all debit entries before credit entries.)