please show procedure
Braxton Technologies, Incorporated, constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 1 , 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-built for A\&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 11%. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A& G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31. 2024 , what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (EV of S1, PV of St, EVA of S1, PVA of S1, EVAD of S1 and PVAD of S1) Complete this question by entering your answers in the tabs below. Prepare the journal entry for ABG's purchase of the conveyor on January 1, 2024. Note: If no entry is recuired for a transaction/event, select. No joumal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dolar Journal entry worksheet Record ABG's purchase of the conveyor: Notel Entar debits before credits. Braxton Technologies, Incorporated, constructed a conveyor for ASG Warehousers that was completed and ready for use on January 1 , 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-bulit for A\&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 117. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1,2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 . 2024, what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (EV of S1, PV of S1, EVA of S1. PVA of S2, EVAD of S1 and PVAD of Si) Complete this question by entering your answers in the tabs below. Prepare the joumal entry for ABG's third installment payment on December 31, 2026. caiculations and final answers to the nearest whole doller. Journal entry worksheet Record ABG's third installment payment. Noten Enter deblits pelore credits. Braxton Technologies, Incorporated, constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 1 , 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-built for A\&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 11%. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2024 , what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (EV of \$1, PV of \$1, EVA of \$1, PVA of S1, EVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the four-year term of the note. Note: Round intermediate calculations and final answers to the nearest whole dollar: 2024. - A\&G paid for the conveyor by issuing a $100,000, fourcyear note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-bulit for A\&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 115. Required: 1. Prepare the joumal entry for A\&G's purchase of the conveyor on January 1,2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the joumal entry for A\&G's third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31, 2024, what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the joumal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (FV of S1, PV of S1, FVA of S1, PVA of S1, PVAD of S1 and PVAD of S1) Complete this question by entering your answers in the tabs below. Prepare the joumal entry for A\&G's third interest payment on December 31,2026. calculations and finat answers to the nearest whole dolise. Journal entry worksheet Record ABG 's third interest payment. Notel Enter debits before credits. Braxton Technologies, Incorporated, constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-built for A&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 11%. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2024, what would be the amount of each installment? 5. By considering the instaliment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (EV of \$1, PV of \$1, EVA of \$1, PVA of \$1. EVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. If ARG's note had been an instaliment note to be paid in four equal payments at the end of each year beginning December 31 , 2024, what would be the amount of each installment? Note: Round intermediate calculations and final answer to the nearest whole dollar. Instalment payment Braxton Technologies, Incorporated, constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 1 . 2024. - A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 6% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. - The conveyor was custom-built for A&G, so its cash price was unknown. - By comparison with similar transactions it was determined that a reasonable interest rate was 11%. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2024. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the joumal entry for A& \&'s third interest payment on December 31, 2026. 4. If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31, 2024, what would be the amount of each installment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third installment payment on December 31, 2026. Note: Use tables, Excel, or a financial calculator. (EV of \$1, PV of S1, EVA of \$1, PVA of \$1, FVAD of S1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. By considering the instaliment payment of requirement 4, prepare an amortization schedule for the four-year term of the instaliment note. Note: Round intermediate calculations and final answers to the nearest whole dollar
