On January 1, 2022, ABC Co. acquired a machine by issuing a Note of $400,000 to be paid in 3 years. The Note requires an interest payment of 5% [$20,000] of the note principal at the end of each of the next three years. The cash market price of the machine is unknown. A reasonable rate of interest on similar notes is 10%. Prepare a journal entry for the following dates: a) January 1, 2022 b) December 31, 2022 c) December 31, 2023