Preparing Entries and Interest Schedule for Long-Term Note Receivable; Effective Interest Method 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. C. \begin{tabular}{|c|c|c|c|} \hline Date & Account Name & Dr. & Cr. \\ \hline \multirow[t]{5}{*}{ Jan. 1, Year 1} & v & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & v & 0 & 0 \\ \hline & To record sale of equipment. & & \\ \hline \multirow[t]{4}{*}{ Dec. 31, Year 1} & & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & To record interest on note. & & \\ \hline \multirow[t]{4}{*}{ Dec. 31, Year 2} & v & 0 & 0 \\ \hline & v & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & To record interest on note. & & \\ \hline \multirow[t]{4}{*}{ Dec. 31, Year 3} & & 0 & 0 \\ \hline & v & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & To record interest on note. & & \\ \hline \multirow[t]{3}{*}{ Dec. 31, Year 3} & & 0 & 0 \\ \hline & & 0 & 0 \\ \hline & To record settlement of note. & & \\ \hline \end{tabular}