5 On January 1, Snipes Construction paid for earth-moving equipment by issuing a $340,000, 5-year note that specified 3% interest to be paid on December 31 of each year. The equipment's retall cash price was unknown, but it was determined that a reasonable Interest rate was 6%. (FV of $1, PV of $1, FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 5.55 points At what amount should Snipes record the equipment and the note? What journal entry should it record for the transaction? eBook Complete this question by entering your answers in the tabs below Price of Equipment General Journal Print At what amount should Snipes record the equipment and the note? (Round your answers to the nearest whole dollars.) References Table values are based on: Amount Present Value oan repayments Interest Principal Price of equipment Price of E General Journal>