On September 1, 2021, Billips Corporation purchased equipment from Mott having a fair value of $99,928 by paying a cash downpayment of $20,000 and issuing a $90,000 note payable in six $15,000 equal payments of blended principal and interest. The payments are to be made every six months beginning March 1, 2022. An interest rate of 7% is implicit in the purchase price. Required: a) (3 marks) Prepare the entry to record the purchase of the equipment. b) (3 marks) Provide the effective interest table for the note for the full term.