On Notes Payable for Chapter 14 Spring 2019 Due in class on Wednesday, February 13.2019 I. Prepare all journal entries for 2018 for the following chronological transactions including any reversing entries to start the year on January 1, 2018, and any ad entries related to the note and interest Gignore depreciation in this problem) at the end of the year on December 31, 2018. Assume straight line entries from 2017 to set up the entries for 2018. usting amortization. You may include Borrowed $90,000 at the bank on April 1, 2017 LAST YEAR), and signed a five a. ar, 7% note at the bank. This note requires payments of interest annually on March 31. The entire principal is due at maturity. b. Purchased a piece of equipment for $39,200 on September 1, 2017 LAST YEAR) and signed a four year 8% note with the equipment dealer. This purchase requires a $5,000 down payment and annual payments of PRINCIPAL AND INTEREST on August 31 each year for the following four years with interest compounded annually. On May 1, 2018 (THIS YEAR), purchased another piece of equipment and issued a three year non-interest bearing note for $240,000. The total $240,000 will be paid on April 30, 2021 . Similar notes pay 8% interest. c. Prepare an amortization table for the 4 years of the note in part "b." The table should have separate columns for each of the four payments, the beginning balance each period, the amount of the payment each period, the amount of interest each period, the amount of principal each period, and the ending balance each period. It would probably be a good idea to use a spreadsheet for this table. You can modify part of your computer problem #1 for this table. Please round all amounts in this table to the nearest DOLLAR. II. Prepare a list of the current liabilities (including any contra current liabilities) AND THE AMOUNTS from the above transactions which should be reported on the balance sheet on December 31, 2018. II. Prepare a list of the NON-current liabilities (including any contra non-current liabilities) AND THE AMOUNTS from the above transactions which should be balance sheet on December 31, 2018 V. reported on the