on January 1, Snipes Construction paid for earth moving equipment by Issuing a S430,000, 2 year note that specified 3% Interest to be pald on December 31 of each year. The equipment's retail cash price was unknown, but it was determined that a reasonable interest rate was 6% (EV0f $1. PV of $1. EVA of $1. PVA - $1. EVAD of S1 and PVAD of $1) At what amount should Snipes record the equipment and the note? What journal entry should it record for the transaction? Complete this question by entering your answers in the tabs below. Price of General Equipment Journal At what amount should Snipes record the equipment and the note? (Round your answer to the nearest whole dollars.) Price of equipment General Journal > On January 1, Snipes Construction paid for earth-moving equipment by Issuing a $430,000, 2-year note that specified 3% Interest to be pald on December 31 of each year . The equipment's retall cash price was unknown, but it was determined that a reasonable interest rate was 6% (EV051, PVC SLEVA 1 SIPVA of $1. EVAD of S1 and PVAD 0151) At what amount should Snipes record the equipment and the note? What journal entry should it record for the transaction? Complete this question by entering your answers in the tabs below. Drice of General Equipment Journal What journal entry should it record for the transaction? (Round your answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet