Braxton Technologies, Inc., constructed a conveyor for A&G Warehousers that was completed and ready for use on January 1, 2016. A&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. The conveyor was custom-built for A&G, so its cash price was unknown. By comparison with similar transactions it was determined that a reasonable interest rate was 11%. (FV of $1, PV of $1, FVA of$1, PVA of $1, FVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for A&G's purchase of the conveyor on January 1, 2016. (lfno entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet Record A&G's purchase of the conveyor. Debit General Journal Date Credit January 01 2016 Equipment 100,000 Notes payable 100,000 *Enter debits before credits done clear entry record entry