5. (20 points) .On October 30, 2016 Sanchez Company acquired a piece of machinery and signed a 12-month note for $24,000.00. The face value of the Note included the price of the machinery and interest. The note is to be paid in four $6,000 quarterly installments. The value of the machinery is the present value of the four quarterly payments discounted at annual interest of 16%. Required: a. Prepare the general journal entries required to record the preceding in including the year end- adjustments. Use Present Value technique