Reznik Inc provided a significant amount of legal services to Spaces Inc during March of 2020. At the end of the month, Berg charged Guo $400,000 for services. The terms of the payment was a non-interest bearing note that was due on March 31st, 2023. A normal rate of interest for Guo is 6%. Berg Inc follows ASPE, and uses the straight-line method to amortize discounts on notes receivables, and has a December 31st, year end Prepare the journal entries required from March 31st, 2020 - December 31st, 2023 Present Value of 1 (PV1,1,n) This table shows the present value of 1 discounted at various rates of interest and for various time periods. It is used to compute the present value of single payments Number of Periods 1 2 3 4 5 1 2 3 6 7 4 5 8 9 10 11 12 13 14 15 6 7 8 9 10 11 12 13 14 15 2% 2 % % 3% 4% 5% 6% 7% 8% 9% 10% 95238 94340 93458 87344 89000 90703 86384 83962 81630 82270 79209 76290 78353 74726 71299 70496 66634 66506 62275 62741 97561 95181 82035 80426 78849 98039 96117 94232 92385 90573 88797 87056 85349 82075 78941 83676 80073 76642 78120 74409 76214 72242 74356 70138 77303 72542 68095 75788 70773 69047 74301 97087 94260 PRESENT VALUE TABLES 92860 90595 88385 86230 83748 84127 81309 96154 92456 88900 91514 88849 85480 82193 86261 79031 74622 75992 71068 73069 70259 67556 64958 67684 64461 66112 57748 64186 55526 Number of Periods 2% 2%% 3% 4% 5% 6% 7% 58201 54393 50835 47509 92593 85734 79383 73503 68058 59190 61391 55839 58468 52679 62460 55684 49697 44401 39711 60057 53032 46884 41496 50507 44230 38782 48102 41727 36245 63017 58349 54027 59627 56447 54703 51316 50187 46651 50025 46043 42410 46319 42241 38554 42888 38753 35049 35553 31863 28966 26333 23939 91743 84168 77218 70843 64993 36770 34046 31524 Present Value of an Ordinary Annuity of n Payments of 1 Each (PVA,,n) This table shows the present value of an ordinary annuity of 1 at various interest rates and for various time periods. It is used to compute the present value of a series of payments made at the end of each interest compounding period. 32618 29925 27454 90909 82645 75131 68301 62092 *** 9% 10% 98039 97561 97087 96154 95238 92593 93458 94340 1.83339 1.80802 1.78326 1.94156 91743 00000 1.75011 1.73664 2.67301 2.62432 257710 2.53129 2.48685 1,92742 2.88388 2.85602 3.80773 3.76197 5.58238 5.38929 5.20637 6.20979 5.97130 5.74664 5.53482 5.33493 1.91347 1.88609 1.85941 2.82861 2.77509 2.72325 3.71710 3.54595 3.62990 3.46511 3.38721 3.31213 3.23972 3.16987 3.79079 4.71346 4.64583 4.32948 4.21236 4.10020 3.99271 3.88965 4.57971 4.45182 4.48502 4.35526 5.60143 5.50813 5.24214 5.41719 5.07569 4.917320 4.76654 4.62288 5.03295 4.86842 6.47199 6.34939 6.23028 6.00205 5.78637 7.32548 7.17014 7.01969 6.46321 6.73274 8.16224 7.97087 7.78611 7.43533 6.80169 6.51523 6.24689 7.10782 8.98259 8.75206 8.53020 8.11090 7.72173 7.36009 7.02358 6.71008 9.78685 9.51421 9.25262 8.76048 8.30641 7.88687 7.49667 7.13896 10.57534 10.25776 9.95400 9.39507 8.86325 8.38384 7.94269 7.53608 11.34837 10.98318 10.63496 8.85268 8.35765 7.90378 9.98565 9.39357 12.10625 11.69091 11.29607 10.56312 9.29498 8.74547 8.24424 9.89864 11.93794 11.11839 10.37966 9.71225 9.10791 8.55948 5.99525 5.75902 6.41766 6.14457 6.80519 6.49506 7.16073 6.81369 12.84926 12.38138 7.48690 7.10336 7.78615 7.36669 8.06069 7.60608