USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS: Harvey, Inc. performed services on October...

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USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS: Harvey, Inc. performed services on October 1, 2014 and received a $268,958, 10% note requiring 5 equal annual payments of P&I, with the first payment to be received immediately on Oct. 1, 2014. The remaining four payments will be received each Oct 1. Harvey's year-end is December 31. a. Compute the amount of the annual payment of P&I (round your factor to 4 decimal places. Round your final answer to the nearest whole dolla r.) P & I Payment: $ [Blank_1] QUESTION 11 Using the information presented above for Harvey, Inc., determine the combined carrying value of the note receivable and interest receivable on Harvey's balance sheet for the year-ended December 31, 2014 after the appropriate adjustments have been recorded for accrued interest. (round your answer to the nearest whole dollar.) (b) Combined Carrying Value of note & interest at December 31, 2014: $[Blank_2] QUESTION 12 Using the information presented above for Harvey, Inc., determine Interest Revenue for the year-ended December 31, 2015. (round your answer to the nearest whole dollar.) (c) Interest Revenue for year-ended December 31, 2015: $ [Blank_3] USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS: Harvey, Inc. performed services on October 1, 2014 and received a $268,958, 10% note requiring 5 equal annual payments of P&I, with the first payment to be received immediately on Oct. 1, 2014. The remaining four payments will be received each Oct 1. Harvey's year-end is December 31. a. Compute the amount of the annual payment of P&I (round your factor to 4 decimal places. Round your final answer to the nearest whole dolla r.) P & I Payment: $ [Blank_1] QUESTION 11 Using the information presented above for Harvey, Inc., determine the combined carrying value of the note receivable and interest receivable on Harvey's balance sheet for the year-ended December 31, 2014 after the appropriate adjustments have been recorded for accrued interest. (round your answer to the nearest whole dollar.) (b) Combined Carrying Value of note & interest at December 31, 2014: $[Blank_2] QUESTION 12 Using the information presented above for Harvey, Inc., determine Interest Revenue for the year-ended December 31, 2015. (round your answer to the nearest whole dollar.) (c) Interest Revenue for year-ended December 31, 2015: $ [Blank_3]

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Harvey Inc Note Receivable Calculations a Annual Payment of PI Round to nearest dollar This is a present value annuity due problemWe can use the annui... View the full answer