Cascade company was trying to sell some of its old oil and gas drilling equipment. On January $1,2021,$ Cascade Company soldequipment to Yukon Oil and Gas Company. The equipment cost $$250,000$ and had accumulated depreciation of $$100,000$ on the date of sale. Yukon Oil and Gas Company gave Cascade Company a $$240,000$ non$-$interest bearing note due December $31,2023$ prevailing rate of interest for a note of this type on January $1,2021,$ was $5\%($EV of $$1.$ PV of $$1.$ EVA of $$1.$ PVA of $$1.$ EVAD of $$1$ and PVAD of $$1)($Use appropriate factor$($s$)$ from the tables provided. If youranswer involves Discount on Notes Payable, abbreviate it to DON.$)$Required:$$Prepare the journal entry for Yukon's purchase of the machine on January $1,2021.$Prepare the journal entry for Yukon on December $31,2021.$Prepare the journal entry for Yukon on December $31,2022.$Prepare the journal entry for Yukon on December $31.2023.$Journal entry worksheetS.No$/$Date $$ Account title $$Debt $$CreditPrepare the journal entry for Yukon's purchase of the machine on January $1,2021$January $01,2021$:Record the entry for Yukon on December $31,2021$December $31,2021$:Prepare the journal entry for Yukon on December $31,2022$December $31,2022$:Prepare the journal entry for Yukon on December $31,2023$December $31,2023$: