5 LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2018. In payment for the $24.8 million purchase, LCD issued a 1-year installment note to be pald in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Evor$1, Pvorst AAotSt PVAotSt EVAD SI and PVADoSD (Use appropriate factors) from the tables provided.) ints Required: 1. & 2. Prepare the journal entry for LCD's purchase of the components on November 1, 2018 and the first installment payment on November 30, 2018. eBook 3. What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 20187 Complete this question by entering your answers in the tabs below Hint Req 1 and 2 Req 3 Print What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2018? (Enter your enswer in whole dollars.) References MacBook Air