On December 31, 2021 your company buys a car from Auto Dealer Ltd. in exchange for $12,000 cash and a note (I.O.U.) requiring payment of two equal annual installments of $14,000 beginning December 31, 2022. Based on the duration of this agreement and Auto Dealer Ltd.'s assessment of future interest rates and your company's creditworthiness, Auto Dealer Ltd. requires a 4.00% rate of return on this financing arrangement. Auto Dealer Ltd. can borrow at 3.00%. Required 1) Prepare your company's journal entry to record the purchase of the car on December 31, 2021. 2) Prepare your company's amortization table for the note payable. 3) Prepare your company's journal entry necessary on December 31, 2022.