Consider the following note payable transactions of Caddell Video Productions. (Click the icon to view the transactions.) Requirements 1. 2. Journalize the transactions for the company. Considering the given transactions only, what are Caddell Video Productions' total liabilities on December 31, 2019? Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) May 1, 2018: Purchased equipment costing $96,000 by issuing an eight-year, 6% note payable. The note requires annual principal payments of $12,000 plus interest each May 1. Accounts and Explanation Date Debit Credit 2018 May 1 Dec 31, 2018: Accrued interest on the note payable. Date 2018 Dec. 31 Accounts and Explanation Debit Credit May 1, 2019: Paid the first installment on the note. Date 2019 May 1 Accounts and Explanation Debit Credit Dec 31, 2019. Accrued interest on the note payable. Date 2019 Dec. 31 Accounts and Explanation Debit Credit Requirement 2. Considering the given transactions only, what are Caddell Video Productions total liabilities on December 31, 2019? The total liabilities of Caddell Video Productions on December 31, 2019 are