Notes: All note payments include interest Stated rate of interest = Market rate of interest for all notes except Non-interest bearing notes. Transaction: Note 12: Date 7/31/2021 Sold Equipment that has an cost of $350,000. The company received in exchange a down payment of $100,000 and a Note which requires 3 annual payments of $150,000 The first payment on the note occurs 07/31/22. The market rate of interest for the note is 4%. Requirement A: Record the original transaction, for the seller. Record the transactions through 07/31/24 Date Description DR CR 7/31/2021 Date Description DR CR 7/31/2022 Date Description DR CR 7/31/2023 Date Description DR CR 7/31/2024 Requirement B: Record the original transaction, for the purchaser. Record the transactions through 07/31/24 Date Description DR CR 7/31/2021 Date Description DR CR 7/31/2022 Date Description DR CR 7/31/2023 Date Description DR CR 7/31/2024 Date Cash Interest Carrying Value 2021 2022 2023 2024 7/31/2021 7/31/2022 7/31/2023 7/31/2024)