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Braxton Technologies, Incorporated, constructed a conveyor for AEG Warehousers that was completed and ready for use on January 1, 2024. - A&G paid for the

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Braxton Technologies, Incorporated, constructed a conveyor for AEG Warehousers that was completed and ready for use on January 1, 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specitied 5% interest to be paid on December 31 of each yeac, 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 9%. Required: 1. Prepare the journal entry for ABG 's purchase of the conveyor on January 1,2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for ASG's third interest payment on December 31,2026. 4. If A\&G's note had been an installment note to be poid in four equal payments at the end of each year beginning December 31 , 2024 , what would be the amount of each instaliment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for ASG's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator, (FV of \$1, PV of \$1, EVA of \$1, PVA of \$1, EVAD of $1 and PVAD of S1) Complete this question by entering your answers in the tabs below

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