Question: please help me answer this question using a BAII plus financial calculator. loonols E14-16 (Lo3) (Entries for Zero-Interest-Bearing Notes) acquisitions On January 1, 201 ,

please help me answer this question using a BAII plus financial

please help me answer this question using a BAII plus financial calculator.

loonols E14-16 (Lo3) (Entries for Zero-Interest-Bearing Notes) acquisitions On January 1, 201 , Ellen Carter Company makes the two following Purchases land having a fair value of $200,000 by issuing a S-yeat, zero-interest bearing of S337,012 Purchases equipment by issuing a 6% 8-year promissory note having a maturity value of S 5000 (interest payable annually) 1. promissory note in the face amount 2. The company has to pay 1 1% interest for funds from its bank. Instructions (Round answers to the nearest cent.) (a) (b) Record the two journal entries that should be recorded by Ellen Carter Company for the two purchases on January 1, 2017 Record the interest at the end of the first year on both notes using the effective-interest method

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