On July 1, 2014, Jasper Distributors Inc. finances the purchase of a new pickup truck by making a cash down payment of $15,000 and issuing a $35,000 two-year, 9% note payable for the balance. The note is payable in four equal semi-annual blended payments of $9,756 due on December 31 and June 30 of each year

REQUIRED:

1. Record the purchase of the truck (no description is required).
2. Prepare the amortization table for the note payable for the first year (First two payments).
3. Record the first payment made on the note (no description is required).