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Exercise 14-20 Installment note; amortization schedule [LO14-3 Inc, acquired a packaging machine from Barton and Barton Corporation Barton and Barton construction of the year installiment

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Exercise 14-20 Installment note; amortization schedule [LO14-3 Inc, acquired a packaging machine from Barton and Barton Corporation Barton and Barton construction of the year installiment note to be paid in four equal payments at the end of each year The FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $) (Use appropriate factorts) from the tables provided) on January 1, 2018. in payment for the $5.4 million machine, American Food nterest at the rate of 1% 1. Prepare the journal entry for American Food Services' purchase of the machine on January 1,2018 2. Prepare an amortization schedule for the four year term of the installment note 3. Prepare the journal entry for the first installment 4. Prepare the journal entry for the third installment payment on December 31, 2020 Complete this question by entering your answers in the tabs below Req 2 Req 1 3 and 4 Prepare an amortization schedule for the four-year term of the installment note.(Enter your Prey 1 or Next>

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