Consider the following note payable transactions of Caldwell Video Productions. (Click the icon to view the transactions.) Requirements 1. Journalize the transactions for the company. Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Jul. 1, 2024: Purchased equipment costing $450,000 by issuing a fifteen-year, 14% note payable. The note requires annual principal payments of $30,000 plus interest each July 1. Accounts and Explanation Date Debit Credit 2024 Jul. 1 Equipment Notes Payable Purchased equipment by issuing a 15-year, 14% note. 450,000 450,000