3. As of January 1,2024 , does the installment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $114,000 at the end of the 24-month period, which option (purchasing with installment note or leasingl would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equipment by borrowing $257,000 with a 24 -month, 12% instaliment note. Payments of $12,097,88 are due at the end of each month, and the first instaliment is due on January 31, 2024. Record the issuance of the instaliment note payable for the purchase of the equipment. 2. The company can sign a 24-month lease for the equipment by agreeing to pay $10,026.65 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, record the lease. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Complete this question by entering your answers in the tabs below. As of January 1, 2024, does the instaliment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? (Round other intermediate and final answers to the nearest whole dollar amount.) January 1, 2024, Paradise Partners decides to uparade recreational equipment at its resorts. The company is contemplating whether to purchase or lease the new equipment, Use PY of St and PYA of.S1. (Use appropriate factor(s) from the tables provided.) Required: 1. The company can putchase the equipment by borrowing $257,000 with a 24 month, 12% instaliment note. Poyments of $12.097.88 are due ot the end of each month, and the fist instaliment is due on January 31,2024 . Record the issuance of the instaliment note poyabie for the purchase of the equipment, 2. The company can sign a 24 -month lease for the equipment by ogreeing to pay $10,026.65 at the end of each month, beginning January 31, 2024. At the end of the lease. the equipment must be retutned. Assuming a bortowing rate of 12 s., record the lease. 3. As of January 1, 2024, does the instaliment note or the lease hove a greater eflect on increasing the compony's amount of reported debt, and by how much? 4. Suppose the equipment has a total valie of $114,000 at the end of the 24 month period, which option (purchasing with instaliment note or leasingl would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equ pment by bocrowing 5257,000 with a 24 -month, 12% instoliment note. Payments of 512,097.88 are due at the end of each month, and the first instaliment is due on January 31,2024 . Record the issuance of the instaliment note payable for the purchase of the equipment. 2. The company can sign a 24 -month lease for the equipment by agreeing to pay 510,026.65 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, recors the lease. (If too erity is required for a particular transaction/event, select "No Journal Entty Required' in the first acrouns held.) Complete this question by entering your answers in the tabs below. 1. The company can purchase the cquipment by borrowing $257,000 with a 24 -month, 12% instaliment note. Payrments of 512.097.88 are due at the end of each month, and the first instaliment is due on January 31, 2024. Record the issuance of the instaliment note payabie for the purchase of the equipment. 2. The company can sign a 2.4-month lease for the equipment by agreelng to pay 510,026.65 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, record the lease. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required: 1. The company can purchase the equipment by borrowing $257,000 with a 24 -month, 12\% installment note. Payments of $12,097.88 are due at the end of each month, and the first instaliment is due on January 31, 2024. Record the issuance of the instaliment note payable for the purchase of the equipment. 2. The company can sign a 24-month lease for the equipment by agreeing to pay $10,026.65 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, record the lease. 3. As of January 1, 2024, does the instaliment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $114,000 at the end of the 24 -month.period, which option (purchasing with installment note or leasing) would likely be better? Complete this question by entering your answers in the tabs below. As of January 1, 2024, does the installiment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? (Round other intermedlate and final answers to the nearest whole dollar amount.)