Your answer is correct. Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, prepare journal entries for both Pharoah and Northern Savings Bank to record the issuance of the note on January 1, 2023. Use the result from the financial calculator or Excel function PV. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. 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. List all debit entries before credit entries.) Assuming that both Pharoah and Northern Savings Bank use the effective interest method to amortize the discount, prepare the amortization schedule for the note. (Round answers to 0 decimal places, e.g. 5,275. Do not leave any answer field blank. Enter 0 for amounts.)