On 12-31-15, Acme purchased a machine. Acme signed a $300,000 zero-interest bearing note. The note is payable in full on 12-31-17. Assume an acceptable interest rate on similar notes was 10%. Also on 12-31-15, Acme incurred and paid $10,000 to have the machine installed in its sales office. In this problem, you can ignore depreciation. Prepare the entries Acme should make related to this machine on:

1. 12-31-15.
2. 12-31-16.
3. 12-31-17.