GROUP 3 Members: Honor Pledge for Group Assignments:

AGUILAR, Jules Ringgo “I accept responsibility for my role in ensuring t

AUSTRIA, Patricia Mae
PELIAS, Dominic Alexander
RAYMUNDO, Neritoni

Down Payment 100,000.00

Present Value of Note
Annual Payment 720,000.00
x PV of OA 3.35 2,412,000.00
Equipment 2,512,000.00

Note Payable Face Amount 3,600,000.00

Present Value of Note 2,412,000.00
Discount on Note Payable 1,188,000.00

15%
Date Payment Interest Principal Present Value Discount
1-Jan-21 2,412,000.00 1,188,000.00
31-Dec-21 720,000.00 361,800.00 358,200.00 2,053,800.00 826,200.00
31-Dec-22 720,000.00 308,070.00 411,930.00 1,641,870.00 518,130.00
31-Dec-23 720,000.00 246,280.50 473,719.50 1,168,150.50 271,849.50
31-Dec-24 720,000.00 175,222.58 544,777.43 623,373.08 96,626.93
31-Dec-25 720,000.00 96,626.93 623,373.08 - -
3,600,000.00 1,188,000.00 2,412,000.00

Q1 1,188,000.00
Q2 2,053,800.00
Q3 826,200.00
Q4 411,930.00
nsibility for my role in ensuring the integrity of the work submitted by the group in which I participated.”

Note Payable, Face amount, Dec 2021

Note Payable, Beginning 3,600,000.00
Less: Dec 2021 payment 720,000.00 2,880,000.00
Less: Discount on Note payable
Beggininig Balance 1,188,000.00
Less: Amortization 361,800.00 826,200.00
Carrying Amount Dec 31, 2021 2,053,800.00

Date Particulars Debit Credit

Jan 1, 2021 Equipment 2,512,000.00
Discount on Note Payable 1,188,000.00
Cash 100,000.00
Note Payable 3,600,000.00
To record initial Francise fee

Dec 31, 2021 Note Payable 720,000.00

Interest Expense 361,800.00
Discount on Note Payable 361,800.00
Cash 720,000.00
To record installment payment
Date Payment Interest Principal Present Value
1-Jan-20 883,832.00
31-Dec-20 400,000.00 150,251.44 249,748.56 634,083.44
31-Dec-21 400,000.00 107,794.18 292,205.82 341,877.62
31-Dec-22 400,000.00 58,122.38 341,877.62 -
1,200,000.00 316,168.00 883,832.00
17%
Down Payment
Present Value of Note
Annual Payment 400,000.00
x PV of OA 2.21 883,832.00
Equipment 883,832.00

Note Payable Face Amount 1,200,000.00

Present Value of Note 883,832.00
Discount on Note Payable 316,168.00