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On January $1,2023,$ The Ayayai Compary received a $4-$year promissory note that had a face value of $$735,000,$ and a stated interest

rate of $6\%$ Interest was receivable on January $1$ each year. The note was issued to yield an effective interest rate of $8\%.$ The Ayayai

Company is publicly traded, uses the effective interest method of amortization for discounts or premiums, and has an April $30$ year

end.

Click here to view the factor table PRESENT VALUE OF $1$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1$

X Your answer is incorrect.

Use $1.$ PV$\mathrm{.}1$ Tables, $2.$ a financial calculator, or $3.$ Ewcel functions to arrive at the amount to record the note receivable. $($Round

present value factor calculations to $5$ decimai places, eg$.1\mathrm{.}2512.$ Round answer to $0$ decimal ploces, eg $58,971.$J

Nate receivable $

eTextbook and Media

Your answer is partially correct.

Prepare a note premium $/$ discount amortization schedule. $($Round answers to $0$ decimal places, e$.$g$.58,971.)$

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Your answer is partially correct.

Prepare the journal entry to record the receipt of the note on January $1.2023.($Round answers to $0$ decimal places, eg$.58,971.$

Credit account titles ore outomatically indented when the amount is entered. Do not indent monually. If no entry is required, select $"$No

Credit account titles are outiomatically indented when the amount is entered. Do not indent manual Entry for the account tities and enter $0$ for the amounts. List all debit entries before credit entries.$)$

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Crepare arry required accrual entry at the company's year$-$end on April $30,2023.($Round answers to $0$ decimal places, es$.58,971.$

Credit occount titles ore outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No

Entry for the account tities and enter $0$ for the amounts. List all debilt entries before credit entries.$)$

eTextbook and Media

Your answer is partially carrect.

Prepare the journal entry to record the first cash col lection by The Ayzyai Company on Janury, $1,2024.($Round answers to $0$

decimal places, eg$.58,971.$ 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.$)$

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