Consider the following note payable transactions of Cargo Video Productions A (Click the icon to view the transactions) Requirements 1. Journalize the transactions for the company. 2. Considering the given transactions only, what are Cargo Video Productions' total liabilities on December 31, 2017? More Info - X 2016 May 1 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 Accrued interest on the note payable. Dec. 31 2017 May 1 Dec. 31 Paid the first installment on the note. Accrued interest on the note payable. Print Done 1, 2016: Purchased equipment costing $96,000 by issuing an eight-year, lanations on the last line of the journal entry.) Date Accounts and Explanation 2016 May 1 Cash Equipment Interest Expense Interest Payable 31, 201 Interest Revenue Notes Payable Date bumalize the transactions for the company. onsidering the given transactions only, what are Cargo Video Productio ment 1. Journalize the transactions for the company. 016: Purchased equipment costing $96,000 by issuing an eight-year, 6% cions on the last line of the journal entry.) Accounts and Explanation 201 Paid first installment of note Purchased equipment by issuing an 8-year, 6% note. De Recognized accrued interest. from any list or enter any number in the input fields and then continue Requirement 2. Considering the given transactions only, what are Cargo Video Productions total liabilities on December 31, 2017? The total liabilities of Cargo Video Productions on December 31, 2017 are $