P 9-4 Zinc Corp. obtained a $100,000 loan from First Capital Bank on December 31, 2018. It purchased a piece of heavy equipment for $95,000 on January 2, 2019. The loan bears interest at 8% per year on the unpaid balance and is repayable in four annual blended payments of $30,192 on December 31 each year, starting in 2019. Required: 1. Prepare the journal entries to record the following transactions: a. Receipt of loan proceeds from the bank b. Purchase of the equipment. 2. Prepare the loan repayment schedule in the following format: Zinc Corp. Loan Repayment Schedule A B C D E (D-B) (A-C) Year ended Beginning Reduction Total Ending Dec. 31 loan balance Interest of loan loan loan expense payable payment balance 2019 2020 2021 2022 3. Prepare the journal entry to record the last loan payment. 4. Prepare a partial statement of financial position showing the loan liability at December 31, 2020.