Braxton Technologies, Incorporated, constructed a conveyor for A\&G 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 specified 5% 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 9%. Required: 1. Prepare the journal entry for A&G '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 A\&G's third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid 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 instaliment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31,2025 . Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Journal entry worksheet Note: Enter debits before credits. Prepare an amortization schedule for the four-year term of the note. Note: Round intermediate calculations and final answers to the nearest whole dollar. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. Prepare the journal entry for A\&G's third interest payment on December 31,2026 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar. Journal entry worksheet Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. If ABG 's note had been an instaliment note to be paid in four equal payments at the end of each year beginning December 31,2024 , what would be the amount of each installment? Note: Round intermediate calculations and final answer to the nearest whole doltar. Complete this question by entering your answers in the tabs below. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year tern installment note. Note: Round intermediate calculations and final answers to the nearest whole dollar. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round interme calculations and final answers to the nearest whole dollar. Journal entry worksheet Record A\&G's third instaliment payment. Note: Enter debits before credits
