3) Record Abc payment on the note for july 31,2023 if the company makes reversing entrues

4) total interest expense that would be recognized over the life of the note

Questions 16 points Svo Answ Assume that for all questions, the company's year-end is 12/31. Part C: On July 31, 2021, Company ABC purchased a new machine from XYZ. The agreement stipulated that ABC would make four payments of $75,000 (including interest) annually July 31. The first note payment is to be made on July 31, 2021. Assume that a market interest rate of 5% applies to this contract: Prevent value of Future value of Present value of Present alueet 1 0.12270 Vale of 1 121551 ordinary ALI ordinary antity 3.54595 4 sity ge 3.72323 431013 596 COPY QUESTIONS 1-3 AND ANSWER IN THE FORMAT PROVIDED, 1. Record Company ABC parchase of the machine on July 31, 2021? (pt) Account Title Debit Credit