Preparing Entries and Interest Schedule for Long-Term Note Receivable, Effective interest Method On July 1, 2020, Stealth Company sold a machine (classified as inventory that had a list price of $575.00. The customer paid $9,600 cash and signed a three-year 348,000 note that specified a stated interest rate of S. Annual interest on the full amount of the principat is payable each june 30. The principal is payable on June 30, 2023. The market rate of interest for a note of this risk is 8% Required Round answers to the nearest whole dollar a. Compute the present value of this note. $ 0 b. Prepare an effective interest schedule for this note. Stated Market Discount Note Date Interest Interest Amortization Carrying Value Jul 1, 2020 Jun 30, 2021 03 OS O Jun 30, 2022 0 0 0 O HG 10 2013 0 o 0 0 Prepare all entries required by Stealth for this note through its maturity date, including year-end adjustments. Date Account Name Dr. Cr. Jul 1, 2020 0 0 9.600 0 0 0 Sales Revenue 0 0 Jun 30, 2021 Cash 0 0 0 0 e 0 0 Jun 30, 2022 Cash 0 0 0 0 0 0 0 e Jun 30, 2023 Cash 0 Ooo OOOO To record interest on note Jun 30, 2023 0 OO 0 To record settlement of note Check