Exercise 14-20 (Algo) Installment note; amortization schedule [LO14-3] American Food Services, Incorporated, acquired a packaging machine from Barton and Barton Corporation. - Barton and Barton completed construction of the mochine on January 1, 2024. - In payment for the $5.6 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year - The payments 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 instaliment note. 3. Prepare the journal entry for the first installment payment on December 31, 2024. 4. Prepare the joumal entry for the third installment payment on December 31,2026 Note: Use tables, Excel, or a financial calculator. (EV of \$1, PV of S1, EVA of S1, PVA of \$1, EVAD of S1 and PVAD of S1) Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the four-year term of the installment note. Note: Round intermediate calculations and final answers to the nearest whole dollar. Journal entry worksheet Record the purchase of the machine on January 1, 2024. Note: Enter debits before credits