On January 1, 2019, Bilips Corporation purchased equipment having a fair value of $72,054.94 by issuing a $90,000 note, payable in threo $30,000 annual instalkents beginning December 31, 2019, Required: Prepare (1) the joumal entry to record the purchase of the equipment, (2) a schedule to compute the annual interest evpense, and (3) the joimal entries to record yearfy interest expense and noto repaymen's over the ate of the note. Prepare a schedule to compute the annual interest expense. Analysis instruations Question not attemoted