9. why is this era of study, more than any other thus far studied, perhaps the foundation for a
modern industrial america that we live in today?

Because technology has significantly changed the way we live in america today, this era allows us to understand various ways of life and this makes studies increasingly important in our society.

Dr Cash 1,166,400

Cr Notes Receivable 1,000,000

Cr Interest Revenue 166,400

Explanation:

To determine the net amount of the notes receivable that will be recorded, we must determine the present value of the note:

present value = 1,166,400 / (1 + 8%)² = 1,166,400 / 1.1664 = 1,000,000