Ivanhoe Inc. provided several entertainment services to Pronghorn Corporation in the past. On January 1, 2023,...

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Ivanhoe Inc. provided several entertainment services to Pronghorn Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Pronghorn was unable to pay the outstanding balance. Ivanhoe agreed to accept a $450,000 non- interest bearing note payable on December 31, 2024. Pronghorn typically could arrange this kind of financing at an interest rate of 15%. 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. (a) Your answer is incorrect. Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.2512. Round PV tables and Excel function answers to O decimal places, e.g. 8,971 and round Financial calculator answer to 2 decimal places, e.g. 89.71.) Using Note receivable 1. PV tables $ 2. Financial calculator $ Ivanhoe Inc. provided several entertainment services to Pronghorn Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Pronghorn was unable to pay the outstanding balance. Ivanhoe agreed to accept a $450,000 non- interest bearing note payable on December 31, 2024. Pronghorn typically could arrange this kind of financing at an interest rate of 15%. 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. (a) Your answer is incorrect. Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.2512. Round PV tables and Excel function answers to O decimal places, e.g. 8,971 and round Financial calculator answer to 2 decimal places, e.g. 89.71.) Using Note receivable 1. PV tables $ 2. Financial calculator $

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1 Using PV tables To calculate the present value of the noninterest bearing note paya... View the full answer