Consider the following note payable transactions of Kurna Productions. iew the transactions. Cequirements 1. Journalize the transactions for the company. 2. Considering the given transactions only, what are Kurna Productions' total liabilities on December 31, 2026? Cequirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) pr. 1, 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. Accounts and Explanation Date Apr. 1, 2025 Debit Credit Transactions Apr. 1, 2025 ec 31, 2025: Accrued interest on the note payable. Dec. 31, 2025 Date Accounts and Explanation Apr. 1, 2026 Dec. 31, 2026 ec. 31, 2025 pr. 1, 2026: Paid the first installment on the note. 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. Print Done -