At January 1, 2018, Brant Cargo acquired equipment by issuing a five-year, $180,000 (payable at maturity), 6% note. The market rate of interest for notes of similar risk is 11%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required:

1. to 3. Prepare the necessary journal entries for Brant Cargo. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar)