need part C please and thanks

Teal Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2020 to expand its production capacity to meet customers demand for its product. Teal issues an) $880,000, 5-year, zero interest-bearing note to Central Michigan for the new equipment when the prevailing market rate of interest for obligations of this nature is 12%. The company will pay off the note in five $176,000 installments due at the end of each year over the life of the note Your answer is correct Prepare the journal entry at the date of purchase. (Round factor values to 5 decimal places, eg: 1 25124 and final answers to O decimal places, 23, 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Eo Court on Nova 0000 Your answer is correct. Prepare the journal entry at the end of the first year to record the payment and interest, assuming that the company employs the effective-interest method. (Round answers to o decimal places, es 5,275 Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Interest Expense 76132.9536 Notes Payable 176000 Cash 176000 Discount on Notes Payable 76132.9536 e Textbook and Media (c) Your answer is partially correct. Prepare the journal entry at the end of the second year to record the payment and interest (Round answers to decimal places, eg 5,275, Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Debit Credit Account Titles and Explanation Notes Payable 176000 Interest Expense Discount on Notes Payable Cast 176000 e Textbook and Media