Question: please help me with this question Preparing Entries and Interest Schedule for Long-Term Note Receivable; Effective Interest Method On january 1 of Year 1, Stealth

please help me with this question

1, Stealth Company sold a machine (classified as inventory) that had a

Preparing Entries and Interest Schedule for Long-Term Note Receivable; Effective Interest Method On january 1 of Year 1, Stealth Company sold a machine (classified as inventory) that had a list price of $18,000. The customer paid $3,000 cash and signed a three-year, $15,000 note that specified a stated rate of 3%. Annual interest on the full amount of the principal is poyable each December 31. The principal is payable on December 31, three years later. The market rate for a note of this risk is 10 \%. Required a. Compute the present value of this note b. Prepare an effective interest schedule for this note, c. Prepare entries required by Stealth for this note on january 1 of Year 1 , and December 31 of Year 1 , Year 2, and Year 3. - Note: Round answers to the nearest whole dollar. a. Present value of note: $ c

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