LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $244 million purchase, LCD 15sued 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 24% (EVO S.PV of S1, EVA of $1. PVA 01:51. EVAD of $i and PVAD of S1) (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 instaliment 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. Reg 1 and 2 Req3 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.) View transaction list Journal entry worksheet 1 2 Record the purchase of the components Note: Enter debits before credits General Journal Date November 01, 2021 Debit Credit Record entry Clear entry View general joumat LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $24.4 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 24% (FV of $1. PV of $1. EVA of S1, PVA of S1. FVAD of S1 and PVAD OF S1) (Use appropriate foctor(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. Req 1 and 2 Reg 3 What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 20217 (Enter your answer in whole dollars.) 2021 interest expense