On January $1,2019,$ RAYCO performed consulting services for HALO Company. HALO

was short of cash, and RAYCO agreed to accept a $5-$year, $$250,000$ zero$-$interest$-$bearing

note due December $31,2023,$ as payment in full. HALO is somewhat of a credit risk and

typically borrows funds at a rate of $9\%.$ RAYCO is much more creditworthy and has

various lines of credit at $6\%.$ The company's fiscal year$-$end is December $31.$

Instructions: Round all figures to the nearest penny.

ON THE BOOKS FOR RAYCO:

PV$=10,000$ xx$11+.$

$($a$)$ Prepare the journal entry to record the transaction of January $1,2019.$

$($b$)$ Prepare the amortization entry for December $31,2019.$

$($c$)$ Prepare the amortization entry for December $31,2020.$

$($d$)$ Prepare the amortization entry for December, $312021.$

$($e$)$ Prepare the amortization entry for December $31,2022.$

$($f$)$ Prepare the amortization entry for December $31,2023.$

$($g$)$ Record HALO's repayment of the note.

Thanks $($d$)$ Prepare the amortization entry for December $31,2021.$

$($e$)$ Prepare the amortization entry for December $31,2022.$

$($f$)$ Prepare the amortization entry for December $31,2023.$

How much is the rounding difference?

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$($g$)$ Record HALO's repayment of the note.