On May 1, 20X4, Louella Corp. purchased equipment with a total cost of $4,000,000. The company financed the purchase by taking out a 9-month, 12%, note. The face value of the note plus interest is due when the note matures in nine months. Interest is calculated as simple interest. The equipment will be used in a variety of R&D activities. It is expected to have a useful life of 5 years and a residual value of $500,000. The DDB method is used. Required: Record the following in the journal below in the order presented. Equipment purchase on May 1 Depreciation for 20X4 Interest for 20X4 Round all calculations to the nearest whole dollar and whole month. Do not include currency symbols, decimals, or cents in the numerical response. Date Account Debit Credit May 1, 20X4 Answer 1 Question 7 Answer 2 Question 7 Answer 3 Question 7 Answer 4 Question 7 Dec 31, 2024 Answer 5 Question 7 Answer 6 Question 7 Answer 7 Question 7 Answer 8 Question 7 Dec 31, 2024 Answer 9 Question 7 Answer 10 Question 7 Answer 11 Question 7 Answer 12 Question 7