II HANDOUT PROBLEM for NON-CURRENT LIABILITIES I. Prepare all journal entries for the following chronological transactions which took place in 2021. a. b. c. Borrowed $400,000 at the bank on September 1, 2021, and signed a six-year, 6% note at the bank. This note requires payments of interest annually on August 31. The entire principal is due at maturity. Purchased a $94,000 piece of equipment on October 1, 2024, and signed a three year 8% note with the equipment dealer. This purchase requires a $4,000 down payment and monthly payments of PRINCIPAL AND INTEREST at the end of each month for the following three years (36 months) with interest compounded monthly. Record the entries on October 1, October 31, November 30, and December 31. On December 31, 2021, accrued interest on the note in part "a." Prepare an amortization table for the 36 months of the note in part "b." The table should have separate columns for each month (October 2021, November 2021, December 2021, January 2022, etc.), the beginning balance each month, the amount of the payment each month, the amount of interest each month, the amount of principal each month, and the ending balance each month. It would probably be a good idea to use a spreadsheet for this table. If you still have computer problem # 3 from the fall, you can probably modify part of that assignment for this table. Please round all amounts in this table to the nearest PENNY. III. IV. Prepare a list of the current liabilities AND THE AMOUNTS from the above transactions which should be reported on the balance sheet on December 31, 2021. Prepare a list of the NON-current liabilities AND THE AMOUNTS from the above transactions which should be reported on the balance sheet on December 31, 2021