Ch American Food Services, Inc, acquired a packaging machine from Barton and Barton Corporation Barton and Barton completed construction of the machine on January 1, 2018 In payment for the $5.0 million machine, American F installment note to be paid in four equal payments at the end of each year. The payments PV of S1. FVA of S1, PVA of S1. EVAD of $1 and ood Services issued a four-year include interest at the rate of 8% (Vos, AD of $1) (Use appropriete factor(s) from the tables provided.) Required 1. Prepare the journal entry for American Food Services' purchase of the machine on January 1, 2018. 2. Prepare an amortization schedule for the four-year term of the installment note 3. Prepare the journal entry for the first installment payment on December 31, 2018 on December 31, 2020