II. Traded this day equipment, original cost $1,200,000 which has been depreciated to only 3/8 of its original cost, for 10 annual notes of $50,000 each. Journalize assuming: (Note two distinct entries) a. Explicit interest Rate of 9% (interest-bearing notes) b. Implicit interest Rate of 9% (non interest-bearing notes) III. Purchased a new machine for $12,000 down payment and issued a non- interest bearing notes of semiannual amounts of $8,000 each to be paid at the end of each six-month period for the next 4 years. Journalize assuming interest of 18%. IV Issued bonds with face value of$2,000,000 contract rate of20%; yields 18%; interest is paid semi annually over a 10 year period. Show both sets of books-debtor and creditor