34.(4 points) On 12-31-15, Acme purchased a machine. Acme signed a $750,000 zero-interest bearing note. The note is payable in full on 12-31-18. Assume an acceptable interest rate on similar notes was 3%. On 12-31-15, Acme incurred and paid $20,000 to have the machine installed in its sales office. In this problem, you can ignore depreciation - we'll get to that in chapter 11. Prepare the entries Acme should make related to this machine on:

a.12-31-15.

b.12-31-16.

c.12-31-17.

d.12-31-18.