Cascade Company was trying to sell some of its old oil and gas dilling equipment On January 1 2021, Cascade Company sold equipment to Yukon Oil and Gas Company The equipment cost \$250,000 and hod accumulated depreclation of $100.000 on the date of sale. Yukon Oil and Gas Company gave Cascade Company a non-interest-beating note with pilyments of $80,000 annually for 3 years. The first note payment is to be mode on Januoty 1, 2021. The prevailing rate of interest for a note of this type on January 1 , 2021, was 5% (EV of S1. PV of S1. EVA of 51. EVA of S1. EVAD of S1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the joumal entry for Yukon's purchase of the machine on January 1, 2021 2. Prepare the journal entry for the installment payment on December 31, 2021 3. Prepare the joumal entry for the installment payment on December 31,2022