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Exercise 14-20 (Algo) Installment note; amortization schedule [LO14-3] Amenican Food Services, inc, acquired a packaging machine from Barton and Banton Corporaton. Barton and Barton complesed corstruction of the machine on January 1, 2021. In payment for the $4.3 millon machane. Arnerican Food 5 arvices issued a four-yea: installment note to be pald in four equal payments at the end of each year. The payments include interest at the rate of 9h, fir ol 51 . PV of 51. EVA of S1. PVA of.S1. EYAD of Sf and PVAD of S1) (Use appropriote foctor(w) from the tobles provided.) Required: 1. Prepare the joumal entry for American Food Services' purchase of the machine on laniary t, 202t. 2. Prepare an amortizabon schedile for the four-year tesm of the installment note 3. Prepare the joumai entry for the first installment payment on December 31,2021 . 4. Prepare the joumal entry for the third instailment paymsent on December 31,2023 . Complete this question by entering your answers in the tabs below. Prepare an arvartizacion schadule for the four year term of the instalinmt note- (f nter ying answeis in mhele dodars.) 4. Prepare the journal entry for the third instalinent paymert on December 31,2023 Complete this question by entering your answers in the tabs below. Journal entry worksheet Wecord the parchase of the mackine en I Inary 1, aset. Prepare the journal entries for American Food Services' purchase of the machine on lanuary 1, 2021, the first irstalinent paynnent en December 31, 2021 and the third installinent payment on December 31, 2023. (Enter your angars in whole dollark. af ne paytry is. required for a transactionvevent, select "No journal entry required" in the firit account fietd.). Journal entry worksheet Recoed the first instalinent payenent on December 31,2021. Notest trict dealu belote drodits Prepare the joumal entries for American food Sorvices' purchase of the machine on lanuary 1,2001 , tho first instalinerit payment en December 31,2021 and the third installment payment on December 31, 2023. (Enter your arswers in whole dollars, if no entry ia requirid for a tranedetion/event, select "tio journat entry required" in the first account field.) Journal entry worksheet Pncord the third installenent payment on December 31, 2023