Preparing Entries and Interest Schedule for LongTerm Note Receivable; Effective Interest Method December The principal is payable on December three years later. The market rate for a note of this risk is
Required
a Compute the present value of this note.
b Prepare an effective interest schedule for this note.
c Prepare entries required by Stealth for this note on January of Year and December of Year Year and Year
Note: Round answers to the nearest whole dollar.
a Present value of note: $
b
tableDatetableCashStatedInteresttableInterestRevenueMarketInteresttablePiscount onNRmortizationtableNoteReceivableNetCarryingValueJan Year $
