LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $24.2 million purchase, LCD issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12% [EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $i and PVAD of $1] (Use appropriate factor(s) from the tables provided.) Required: 1. & 2. Prepare the journal entries for LCD's purchase of the components on November 1, 2021 and the first installment payment on 3. What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2021? Book Complete this question by entering your answers in the tabs below. Hin Req 1 and 2 Req3 Print Prepare the journal entries for LCD's purchase of the components on November 1, 2021 and the first installment payment on November 30, 2021. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) References View transaction lit Journal entry worksheet 1 > Record the purchase of the componente Nome Entert fore credits General Journal Det November 01 2021 Maced Clear entry View general Journal Swed Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for th lion purchase, LCD issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The Elude interest at the rate of 12% (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 (Use appropriate fact etables provided.) equired: & 2. Prepare the journal entries for LCD's purchase of the components on November 1, 2021 and the first installment paymer november 30, 2021. - What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2021? Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Prepare the journal entries for LCD's purchase of the components on November 1, 2021 and the first installment payment on November 30, 2021. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "Rio joumal entry required in the first account field.) View transaction list Journal entry worksheet 1 Record the first installment payment. to Enter debts before credits General Journal Debat Date November 30, 2021 Cla and Long-Term Notes) Seved 9 LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $24.2 million purchase, LCD issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12% (FV of $1. PV of $1. EVA O SI. PVA $1. FVAD of Si and PVAD of $3 (Use appropriate factor(s) from the tables provided.) Required: 1. & 2. Prepare the journal entries for LCD's purchase of the components on November 1, 2021 and the first installment payment on November 30, 2021 3. What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2021? Complete this question by entering your answers in the tabs below. Hint Red 1 and 2 R04 What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2021 (Enter your answer in whole dollars.)
