On August 1, 2018, Stone Corp purchased inventory by signing a 4-year $142,438.57 face value non-interest bearing note. The implicit interest rate (a reasonable cost of borrowing for this type of note) is 7%. The note will be paid back in eight equal semi-annual installments of $19,348 beginning on 2/1/2019.

Build and present the amortization table

Show all journal entries for 8/1/18, 12/31/18 and 2/1/19