P$9-3($Static$)$ Computing Equal Periodic Debt Payments, and Completing a Schedule LO$9-2$

Alimentex Inc. develops, manufactures, and markets a wide range of fruit and vegetable juices and drinks as well as specialty food

products, such as fondue broths and sauces, soups, gravies, pestos, and sauces for pasta and pizza. Use Table $8$C$\mathrm{.}1,$ Table $8$C$\mathrm{.}2.$

$($Round time value factor to $4$ decimal places.$)$

The company's long$-$term debt includes the following obligations:

Required:

Assume that the equipment related to the first obligation was acquired on January $1,2020$ and that the first payment of $$262,212$

was made on December $31,2020.$ Verify that the carrying amount reported by the company as of December $31,2022$ represents the

present value of the remaining annual payments. $($Note: Tables $8$ C$.1$ and $8C\mathrm{.}2$ do not include the $5\mathrm{.}5$ percent interest rate. Use

Microsoft Excel or a calculator to compute the present value of future payments.$)($Enter your answer in dollars not in thousands of

dollars rounded to the nearest whole dollar.$)$

How much interest will the company pay as part of the five remaining instalments on the $5\mathrm{.}5$ percent obligation? $($Hint$.$ You may find

it helpful to prepare a schedule similar to Exhibit $9\mathrm{.}3,$ option $3.)($Enter your answer in dollars not in thousands of dollars rounded to

the nearest whole dollar.$)$

Prepare the journal entry to record payment of the instalment on December $31,2023.($If no entry is required for a

transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in dollars not in thousands of

dollars rounded to the nearest whole dollar.$)$

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