B. Lambert acquired some office equipment with a fair value of $114,545 by issuing a one-year, $120,000 note. The stated interest on the note is 5% . Prepare the journal entries to record each of the three transactions and the interest expense at the end of the first year for each. (If no select "No journal entry required" in the first account field. Do not round intermediate al entries to record each of the three transactions and the interest expense at the end of the first year for each ansaction/event, select "No journal entry required in the first account field. Do not round intermedia entry is r Clear entry Prepare the journal entries to record each of the three transa entry is required for a transaction/event, select No journal entry required" in the first calculations. Enter your answers in whole dollars.) ctions and the Interest expense at the end of the first year account field. Do not round irn Journal entry worksheet Record the purchase of the building in Situation C. Clear entry C. The company purchased a building by issulng a two-year Installment note. The note is to be repaid in equal Installments ao million per year beginning one year hence. The current market rate of interest is 11%. Prepare the journal entries to record each of the three transactions and the interest expense at the end of the first year for ea entry is required for a transacti ion/event, select "No journal entry required" in the first account field. Do not round interme calculations. Enter your answers in whole dollars.) Journal entry worksheet C. Record entry Clear entry