3 Problem 14-11 (Algo) Note with unrealistic interest rate [LO14-3] 4 points Skipped eBook Print At January 1, 2021, Brant Cargo acquired equipment by issuing a four-year, $250,000 (payable at maturity), 6% note. The market rate of interest for notes of similar risk is 12%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. to 3. Prepare the necessary journal entries for Brant Cargo. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar) References View transaction list Journal entry worksheet < 1 2 3 Record the purchase of equipment. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal >