Question: Please help me with exercise 3-5. The problem is on the first picture and the answer summary guide is on the second picture exercise 3-5

Please help me with exercise 3-5. The problem is on the first picture and the answer summary guide is on the second picture exercise 3-5 only. THank you, please help me!

exercise 3-5 only. THank you, please help me! Exercise 3 5 On

Exercise 3 5 On January 1, 2020, Frank Co. received a 14%, three-year note from a customer. The interest on the note is paid every June 30 and December 31. The note has a face value of PI ,000,000. The effective rate applicable on the note is 12%. 1. Determine the initial amount of the note. 2. Prepare an amortization table to Show the balance of the note at the end of each reporting period from 2020 to 2022. 3. Compute for the interest income recognized by Frank during each period from 2020 to 2022. ANSWER SUMMARY TEMPLATE (CHAPTER 3) EXERCISE 3-5 EXERCISE 3-6 1. INITIAL AMOUNT = 1. ACCOUNTS RECEIVABLE TURNOVER 2. CARRYING VALUE 2020 December 31, 2020 = 2021 December 31, 2021 = 2. AVERAGE COLLECTION PERIOD December 31, 2022 = 2020 E 3. INTEREST INCOME 2021 December 31, 2020 = December 31, 2021 = December 31, 2022 =

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