Using a present value table, your calculator, or a computer program present value function, answer the following questions: See Table 6-4 and Table 6-5 (Use the appropriate factor by clicking on the appropriate Table links.) Required: a. What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 6% ? b. What is the present value of $20,000 to be paid at the end of 21 years, using an interest rate of 14% ? c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 10 years, assuming that the account will earn 8% interest? d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 13 years, assuming that the account will earn 10% interest? e. Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. 1. Prepare the horizontal model and record the journal entry, to show the purchase of the machine as described. 2. How much is the equal annual payment of principal and interest due at the end of each year? 3. What is the total amount of interest expense that will be reported over the life of the note? 4. Prepare the horizontal model and record the journal entries, to show the equal annual payments of principal and interest due at the end of each year. Complete this question by entering your answers in the tabs below. Req A Req B Req C Req Ela Req Elb Req E2 Req E3 Req E4a Req E4b Req D What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 6%? (Round your answer to 2 decimal places. (e.g., 32.16)) Present Value Req A Req B > Using a present value table, your calculator, or a computer program present value function, answer the following questions: See Table 6-4 and Table 6-5 (Use the appropriate factor by clicking on the appropriate Table links.) Required: a. What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 6%? b. What is the present value of $20,000 to be paid at the end of 21 years, using an interest rate of 14%? c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 10 years, assuming that the account will earn 8% interest? d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 13 years. assuming that the account will earn 10% interest? e. Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. 1. Prepare the horizontal model and record the journal entry, to show the purchase of the machine as described. 2. How much is the equal annual payment of principal and interest due at the end of each year? 3. What is the total amount of interest expense that will be reported over the life of the note? 4. Prepare the horizontal model and record the journal entries, to show the equal annual payments of principal and interest due at the end of each year. Complete this question by entering your answers in the tabs below. Check my work Req A Req B Req C Req D Req Ela Req Elb Req E2 Req E3 Req E40 Req E4b Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. Prepare the horizontal mode with + for increases and amounts with for decreases.) Assets Balance Sheet Liabilities Stockholders' Equity Net Income Income Statement Revenues Req A Req B Req C Req D Req Ela Req Elb Req E2 Req E3 Req E4a Req E4b Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. Record the journal entry, to show the purchase of the machine as described. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < Record the purchase of a machine with a partial payment and by signing a note for the balance. Note: Enter debits before credits. Event 1 General Journal Debit Credit View general journal Record entry Clear entry a. What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 6%? b. What is the present value of $20,000 to be paid at the end of 21 years, using an interest rate of 14%? c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 10 years, assuming that the account will earn 8% interest? d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 13 years, assuming that the account will earn 10% interest? e. Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. 1. Prepare the horizontal model and record the journal entry, to show the purchase of the machine as described. 2. How much is the equal annual payment of principal and interest due at the end of each year? 3. What is the total amount of interest expense that will be reported over the life of the note? 4. Prepare the horizontal model and record the journal entries, to show the equal annual payments of principal and interest due at the end of each year. Check my work Complete this question by entering your answers in the tabs below. Req A Req B Req C Req D Req Ela Req Eib Req E2 Req E3 Req E4a Req E4b Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. Prepare the horizontal mode each year. (Use amounts with + for increases and amounts with for decreases. Enter decreases with a minus sign to indicate a negative financial statement effect.) Year Assets 1 2 3 Balance Sheet Liabilities . Stockholders' Equity Net Income + + 4 Income Statement Revenues Req A Req B Req C Req D Req Ela Req Elb Req E2 Req E3 Req E4a Req E4b Assume that a machine was purchased for $54,300. Cash of $17,800 was paid, and a four-year, 8% note payable was signed for the balance. Record the journal entries, to show the equal annual payments of principal and interest due at the end of each year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Record the annual lease payments on a note payable. Note: Enter debits before credits. Year 1 General Journal Debit Credit View general journal Record entry Clear entry