1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\& G's third interest payment on December 31, 2026. 4. If A\& G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2024 , what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (FV of $1,PV of $1, FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 ) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar. 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A\& G 's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 2024 , what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the four-year term of the note. Note: Round intermediate calculations and final answers to the nearest whole dollar. Braxton Technologies, Incorporated, constructed a conveyor for A\& G Warehousers that was completed and ready for use on January 1 , 2024 - A\&G paid for the conveyor by issuing a $125,000, four-year note that specified 7% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-built for A&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 12%. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A\& G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2024, what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026
