On January $1,2023,$ The Bridgeport Company received a $4-$year promissory note that had a face value of $$805,000,$ 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 Bridgeport 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 $1\mathrm{.}1)$ Arrive at the amount to record the notes receivable $2)$ Prepare a note premium$/$discount amorization schedule $3)$Prepare the journal rntry to record the recript of the notes on January $1,20234)$prepare any required accrual entry at the company year end on april $30,20235)$prepare the journal entry to record the first cash collection by the bridgeport company on january $1,2024$