10 Chapter 14 Saved Help Sav 12 Braxton Technologies, Inc., constructed a conveyor for A&G Warehousers that was completed and ready for use on A&G paid for the conveyor by issuing a $100,000, four-year note that specified 6 % 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, comparison with similar transactions it was determined that a reasonable interest rate was 10 %. (FV of $1 . PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) January 1, 2018. so its cash price was unknown. By points Required: 1. Prepare the journal entry for A&G's purchase of the conveyor on January 1, 2018. 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, 2020 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, 2018, what would be the amount of each installment? C Print References 5. By considering the installment payment of required 4. Prepare note an amortization schedule for the four-year term of the installment 6. Prepare the journal entry A&G's third installment payment on December 31, 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Prepare the journal entry for A&G's third installment payment on December 31, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list 12 1. Prepare the journal entry tor A&G's purchase ot the conveyor on January 1, 2018. 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, 2020. 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, 2018, what would be the amount of each installment? 5. By considering the installment payment of required 4. Prepare an amortization schedule for the four-year term of the installment 10 points note. 6. Prepare the journal entry for A&G's third installment payment on December 31, 2020. Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Prepare the journal entry for A&G's purchase of the conveyor on January 1, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 01, 2018 Equipment Required 2 12 1. Prepare the journal entry tor A&G's purchase ot the conveyor on January 1, 2018. 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 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, 2 what would be the amount of each installment? 5. By considering the installment payment of required 4. Prepare on December 31, 2020. 10 amortization schedule for the four-year term of the installment an points note. 6. Prepare the journal entry for A&G's third installment payment on December 31, 2020. Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Prepare an amortization schedule for the four-year term of the note. (Enter your answers in whole dollars.) Effective Interest Outstanding Balance Increase in Years Cash Payment Balance 2018 2019 2020 2021 Total $ 0 0 0 Required 1 Required 3 > 12 5. By considering the installment payment of required 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, 2020. 10 Complete this question by entering your answers in the tabs below. points Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Print Prepare the journal entry for A&G's third interest payment on December 31, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) References View transaction list Journal entry worksheet 1 Record A&G's third interest payment. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2020 12 A&G paid for the conveyor by issuing a $100,000, four-year note that specified 6 % 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, comparison with similar transactions it $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) so its cash price was unknown. By was determined that a reasonable interest rate was 10 % . (EV of $1, PV of $1, FVA of $1, PVA of 10 Required: 1. Prepare the journal entry for A&G's purchase of the conveyor on January 1, 2018. 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, 2020 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, 2018, what would be the amount of each installment? 5. By considering the installment payment of required 4. Prepare an amortization schedule for the four-year term of the installment points Print note. References 6. Prepare the journal entry for A&G's third installment payment on December 31, 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 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, 2018, what would be the amount of each installment? (Enter your answers in whole dollars.) instaliment payment