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More Info 2018 Oct. 1 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual principal payments of $8,000 plus interest each October 1. Dec. 31 Accrued interest on the note payable 2019 Oct. 1 Paid the first installment on the note. Dec. 31 Accrued interest on the note payable Print Done Consider the following note payable transactions of Caddell Video Productions Click the icon to view the transactions) Requirements 1. Journalize the transactions for the company 2. Considering the given transactions only, what are Caddell Video Productions' total liabilities on December 31, 2019? Requirement 1. Journalize the transactions for the company (Record debits first, then credits Select explanations on the last line of the journal entry) Oct 1, 2018 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable The note requires annual principal payments of $8.000 plus interest each October 1 Date Accounts and Explanation Debit Credit 2018 Oct 1 Dec 31, 2018: Accrued interest on the note payable. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Oct 1, 2019: Paid the first installment on the note. Date Accounts and Explanation Debit Credit 2019 Oct. 1 watahin Credit | // / / | // // | // Debit // // // / // Accounts and Explanation Dec 31, 2019: Accrued interest on the note payable Date 2019 Dec 31 Requirement 2. Considering the given transactions only, what are Caddell Video Productions total liabilities on December 31, 2019? The total liabilities of Caddell Video Productions on December 31, 2019 are $ Choose from any list or enter any number in the input fields and then continue to the next