Consider the following note payable transactions of Cariton Video Productions. (Click the icon to view the transactions) Requirements 1. Journalize the transactions for the company 2. Considering the given transactions only, what are Carlton Video Productions' total liabilities on December 31, 2025? Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry) Apr. 1, 2024 Purchased equipment costing $56,000 by issuing a seven-year, 13% note payable. The note requires annual principal payments of $8,000 plus interesti each April 1 Date 2024 Apr 1 Accounts and Explanation Debit Credit Apr. 1, 2024 Dec. 31, 2024 Apr. 1, 2025 Dec. 31, 2025 Purchased equipment costing $56,000 by issuing a seven-year, 13% note payable. The note requires annual principal payments of $8,000 plus interest each April 1. Accrued interest on the note payable. Paid the first installment on the note. Accrued interest on the note payable