D. Example 2: On January 1, 2017, the Jones Company purchased equipment and gave $32,000 cash and a two-year, 5%, s60,000 note. The note's interest is payable annually on each December 31st, beginning December 31, 2017. The note was issued to yield 8%. REQUIRED: Round your answers to the nearest dollar. 1. Prepare the Jones Company's 2017 journal entries in good form related to the above transaction. frin (fY1. %,2) sio,myo.VS 7 y:lsi,yg Debit Credit 1/1/17:Eit 3, 210 o000 #5