American Food Services, Inc. acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $4.8 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 12%. The present value of $1 ordinary annuity for 4 periods at 12% is 3.03735 The present value of $1 ordinary annuity for 8 periods at 6% is 6.20979 The present value of a single $1 for 4 periods at 12% is 0.63552 The present value of a single $1 for 8 periods at 6% is 0.62741 The journal entry that American Food Services prepares on December 31, 2018 includes Acredit to Discount on Note Payable account by $1,004,325. A debit to interest Expense account by $1,580,325. A debit to Interest Expense account by $576,000. A debit to Note Payable account by $1,580,325