A company (buyer) is looking to purchase a piece of equipment from a manufacturer (seller). The manufacturer is willing to provide a 0-Interest note for the purchase. The following information was provided to you for the purchase that occurred on June 14 2021: Equipment Retail $25,000 Price Useful life of equipment 4 Years Term of Note 3 Years $28,000 4% Face Value of Note Borrowing Rate (buyer) Borrowing Rate (seller) Method of Depreciation 3% Double-Declining 1. It is expected that the equipment will have no value when the useful life is exhausted. The company has a December 31-year end. Prepare all of the journal entries for the first year. 2. The company may be able to get a government grant to cover a portion of the acquisition costs. What options are there to account for this and how would it impact the financial statements