TWO VERSIONS OF THIS QUESTION THAT MAY BE ON MY EXAM PLEASE TRY TO EXPLAIN BOTH I WILL THUMBS UP At the beginning of the year, Lambert Motors issued the three notes described below Interest is paid at year end (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided ) The company issued a two year, 10 , $650,000 note in exchange for a tract of land The current market rate of interest is 10 Lambert acquired some office equipment with a fair value of $119,318 by issuing a one year, $125,000 note The stated interest on the note is 5 The current market rate of interest is 10 The company purchased a building by issuing a two year installment note The note is to be repaid in equal installments of $1 million per year beginning one year hence The current market rate of interest is 10 At the beginning of the year, Lambert Motors issued the three notes described below Interest is paid at year end (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided ) The company issued a two year, 20 , $670,000 note in exchange for a tract of land The current market rate of interest is 20 Lambert acquired some office equipment with a fair value of $122,833 by issuing a one year, $134,000 note The stated interest on the note is 10 The current market rate of interest is 20 The company purchased a building by issuing a four year installment note The note is to be repaid in equal installments of $1 million per year beginning one year hence The current market rate of interest is 20 PARTS E AND F IS WHAT I NEED EXPLAINED AND HELPED WITH, the rest of my answers are correct, thank you B 1b Interest expense 65,000 Cash 65,000 2a Office equipment Discount on notes payable Notes payable 119,318 5,682 125,000 D 2b 11,932 Interest expense Discount on notes payable 5,682 Cash 6,250 E 3a Building Notes payable F 3b Interest expense Notes payable Cash 1,000,000 B 1b Interest expense 134,000 Cash 134,000 2a 122,833 Office equipment Discount on notes payable Notes payable 11,167 134,000 D 2b 24,567 Interest expense Discount on notes payable 11,167 13,400 Cash E 3a Building Notes payable F 3b Interest expense Notes payable Cash 1,000,000

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TWO VERSIONS OF THIS QUESTION THAT MAY BE ON MY EXAM: PLEASE TRY TO EXPLAIN BOTH I WILL THUMBS UP!!!! At the beginning of the

TWO VERSIONS OF THIS QUESTION THAT MAY BE ON MY EXAM: PLEASE TRY TO EXPLAIN BOTH I WILL THUMBS UP!!!!

At the beginning of the year, Lambert Motors issued the three notes described below. Interest is paid at year-end. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

The company issued a two-year, 10%, $650,000 note in exchange for a tract of land. The current market rate of interest is 10%.
Lambert acquired some office equipment with a fair value of $119,318 by issuing a one-year, $125,000 note. The stated interest on the note is 5%. The current market rate of interest is 10%.
The company purchased a building by issuing a two-year installment note. The note is to be repaid in equal installments of $1 million per year beginning one year hence. The current market rate of interest is 10%.

The company issued a two-year, 20%, $670,000 note in exchange for a tract of land. The current market rate of interest is 20%.
Lambert acquired some office equipment with a fair value of $122,833 by issuing a one-year, $134,000 note. The stated interest on the note is 10%. The current market rate of interest is 20%.
The company purchased a building by issuing a four-year installment note. The note is to be repaid in equal installments of $1 million per year beginning one year hence. The current market rate of interest is 20%.

image text in transcribed PARTS E AND F IS WHAT I NEED EXPLAINED AND HELPED WITH, the rest of my answers are correct, thank you!!

B 1b Interest expense 65,000 Cash 65,000 2a Office equipment Discount on notes payable Notes payable 119,318 5,682 125,000 D 2b 11,932 Interest expense Discount on notes payable 5,682 Cash 6,250 E 3a Building Notes payable F 3b Interest expense Notes payable Cash 1,000,000 B 1b Interest expense 134,000 Cash 134,000 2a 122,833 Office equipment Discount on notes payable Notes payable 11,167 134,000 D 2b 24,567 Interest expense Discount on notes payable 11,167 13,400 Cash E 3a Building Notes payable F 3b Interest expense Notes payable Cash 1,000,000