PLEASE READ THE FOLLOWING SCENARIO AND ANSWER QUESTIONS 20 to QUESTION 22 Consider the following: YZ Company bought Machinery on 1 January 2014 by issuing a zero-interest-bearing Note Payable (i.e., a 'Zero Coupon' Note Payable). The Note Payable has a Nominal Value of $100,000. It is repayable on 31 December 2016. The yield on the Note Payable is 3%. The coupon is 0%. The Machinery has a useful life of 10 years and a zero residual value. The company uses straight line depreciation. SAMPLE QUESTION 20 Show any Journal Entry (or Entries) required on 1 January 2014 SAMPLE QUESTION 21 Show any Journal Entry (or Entries) required on 31 December 2014 SAMPLE QUESTION 22 Show the Financial Statement Extracts for the period ending 31 December 2014