Exercise 14-20 (Algo) Installment note; amortization schedule [LO14-3] American Food Services, Incorporated, acquired a packeging mechine from Barton and Barton Corporation. - Barton and Barton completed construction of the machine on January 1, 2024 - In payment for the $5.6 milion machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. - The poyments include interest at the rate of 10% Required: 1. Prepare the journal entry for American Food Services' purchase of the machine on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the instailment note. 3. Prepare the journat entry for the first installment payment on December 31, 2024. 4. Prepare the journal entry for the third instaliment payment on December 31,2026. Complete this question by entering your answers in the tabs below. Prepare an amortuation schedule for the four-year term of the instaliment note. Note: Hound intermediate calculstions and final ansmers to the nebrest whoke dollor