Can somebody please help me with this? I do not need the answers to the first part of the amortization schedule, only the second and third parts which are the journal entries and balance sheet. Real answers only, this is not an advanced question.

Problem 10-13A Grace Herron has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2013, Grace was loaned $242,000at an annual interest rate of6%. The loan is repayable over5years in annual installments of $57,450, principal and interest, due each June 30. The first payment is due June 30, 2014. Grace uses the effective-interest method for amortizing debt. Her ski hill companys year-end will be June 30.

	Your answer is correct.

Prepare an amortization schedule for the 5 years, 20132018.(Round answers to 0 decimal places, e.g. 125.)

Period	Cash Payment	Interest Expense	Principal Reduction	Balance
July 1, 2013	$	$	$	$
June 30, 2014
June 30, 2015
June 30, 2016
June 30, 2017
June 30, 2018					*

*Amount may be off due to rounding.

SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER

LINK TO TEXT

	Your answer is partially correct. Try again.

Prepare all journal entries for Grace Herron for the first 2 fiscal years ended June 30, 2014, and June 30, 2015.(Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 1/13
June 30/14
June 30/15

SHOW LIST OF ACCOUNTS

LINK TO TEXT

	Your answer is partially correct. Try again.

Show the balance sheet presentation of the note payable as of June 30, 2015. (Hint:Be sure to distinguish between the current and long-term portions of the note.)(Round answers to 0 decimal places, e.g. 125.)

GRACE HERRON Balance Sheet (Partial) June 30, 2015
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
	$