MoonShine Company signed a note for $50,000 to purchase a new plece of equipment. MoonShine will pay back the $50,000 at the end of two years along with any accrued interest. The annual interest rate on the loan is 6%. Required: 1. Compute the present value of this long-term liability. (Ey of S1, PV of $1. EVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Present value 2. Prepare the journal entry MoonShine will record on the day it purchases the piece of equipment and signs the note. (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 Record the purchase of equipment and signing of the note. Note: Enter debits before credits Transaction General Journal Debit Credit