Requirements:

Using the data below, record all the equired joumal entries for the following problem in appropriate professlonal Excel format $($i$.$e$.,$ use cell referencing and formulas, no hard coding numbers$).$

To support your joumal entries, use the effective interest method of amortization using a table.

All account titles and subtotals should be added using cell referencing.

Gading: $10$ pessible points

This spreadsheet contains macros which will provide real time feedback on EACH cell that you enter in the Solution.

There are $64$ cells which get graded, and your score on this assignment will be calculated based upon the $\%$ of the $64$

cells that are completed correctly.

Hips:

The present value of the note recelvable should be calculated using the Excel PV formula in the amorization table.

Amounts should all be rounded to the nearest dollar $($no cents$).$

Amounts from the Amorization Table should be used to populate the joumal entries when possible $($otherwise use amounts in the Data provided$).$

If you get a yellow cell after entering data, be sure to look for the "tip" provided by the tool in the row at the top of vour spreadsheet often this is a formatting issue.

Data On December $31,2025,$ Big Bad Accounting Corp. provided consulting services to Tecky Inc. Tecky gave a $2-$year, $$200,000,7\%$ note. Tecky had previously sought a bank loan and was told the bank would charge Tecky $9\%$ interest. The note issued by Big Bad Accounting required interest to be paid annually on December $31.$ Big Bad Accounting Corp's financial statements are $23$ prepared on a calendar$-$year basis.

$\backslash$table$[[24,$Loan Amount,$$200,000],[25,$Term of Loan $($in vears$),2],[26,$stated rate,$7\%],[27,$Effective rate,$9\%],[28,$Annual interest received,$$14,000]]$

Possible account titles and terms to be used $($cell reference from here, some terms $($cell reference from here, some will be used more than once and some not at all$)$ Carying Value $\frac{N}{R}$

$3$ Cash

$4$ Cash Interest Received

$5$ CR

$6$ Date

$37$ Discount Amortized

$38$ Discount on Note Receivable

$39$ DR

$40$ Interest Revenue

$1$ Note Receivable

$2$ Premium Amortized

$43$ Premium on Note Receivable

$44$ Revenue

$45$ To record interest revenue and amortize discount

$46$ To record revenue for consulting sevices and the receipt of the note

$47$ To record principal repayment

$4812/31/25$

$49,\frac{12}{31}\frac{?}{26}$

$50,\frac{12}{31}\frac{?}{27}$

$51,22$ years

$52$$$200,000$

$\backslash$table$[[53,7\%$