Bento Corporation took a $ 500,000 four- year note receivable from a customer in connection with a.. 1 answer below »

Bento Corporation took a $ 500,000 four- year note receivable from a customer in connection with a major sale transaction. The note required annual blended payments, to be paid at the end of each year. The market interest rate is 4%. Required: 1. Calculate the required blended payment. Round to the nearest dollar. 2. Prepare a schedule that shows the annual interest and principal portion of the four payments. 3. Prepare journal entries to record the initial sale transaction and each payment.

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