On January 1, 20x1, Lawrence Lenders loaned $8.2 million to Wilkins Food Products, Inc. to purchase a frozen food storage facility. Wilkins signed a three-year, 7% installment note to be paid in three equal payments at the end of each year. (FV of $1, PV of $1, FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 ) (Use approprlate factor(s) from the tables provided.) Required: Prepare the following for Lawrence Lenders: 1. Prepare the journal entry for lending the funds on January 1,201. 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the joumal entry for the first installment payment received on December 31,201. 4. Prepare the journal entry for the third installment payment received on December 31,203. Complete this question by entering your answers in the tabs below. Prepare the journal entries for FinanceCo's lending the funds on January 1, 2021, the first installment payment on December 31,2021 and the third installment payment on December 31,2023 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Record the journal entry for FinanceCo's lending the funds on January 1, 2021. On January 1, 20x1, Lawrence Lenders loaned $8.2 million to Wilkins Food Products, Inc. to purchase a frozen food storage facility. Wilkins signed a three-year, 7% installment note to be paid in three equal payments at the end of each year. (FV of $1, PV of $1. FVA of \$1, PVA of $1. FVAD of $1 and PVAD of $1 ) (Use approprlate factor(s) from the tables provided.) Required: Prepare the following for Lawrence Lenders: 1. Prepare the journal entry for lending the funds on January 1,201. 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the joumal entry for the first installment payment received on December 31,201. 4. Prepare the journal entry for the third installment payment received on December 31,203. Complete this question by entering your answers in the tabs below. Prepare the journal entries for FinanceCo's lending the funds on January 1, 2021, the first installment payment on December 31,2021 and the third installment payment on December 31,2023 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Record the journal entry for the receipt of the first installment payment on December 31, 2021. On January 1, 20x1, Lawrence Lenders loaned $8.2 million to Wilkins Food Products, Inc. to purchase a frozen food storage facility. Wilkins signed a three-year, 7% installment note to be paid in three equal payments at the end of each year. (FV of $1, PV of $1, FVA of \$1. PVA of $1, FVAD of $1 and PVAD of $1 ) (Use approprlate factor(s) from the tables provided.) Required: Prepare the following for Lawrence Lenders: 1. Prepare the journal entry for lending the funds on January 1,201. 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the journal entry for the first installment payment received on December 31,201. 4. Prepare the journal entry for the third installment payment received on December 31,203. Complete this question by entering your answers in the tabs below. Prepare the journal entries for FinanceCo's lending the funds on January 1, 2021, the first installment payment on December 31,2021 and the third installment payment on December 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Record the journal entry for the receipt of the third installment payment on December 31, 2023