pls answer interest expense

AccoUNTING (Me FULL SCREEN DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7 % instalment loarm payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The folowing is an extract from the loan amortization table the supplier provided to DueNorth: PRINTER VERSTON BACK Beginning loan balance Ending loan Payment Dates Payment Interest Principal balance 9/30/20 $280,000 $16,714 $4.900 $11,814 $268,186 12/31/20 3/31/21 268,186 16,714 4.693 12,021 256,16 256,165 16,714 4,483 12.231 243.934 6/30/21 9/30/21 243,934 16.714 4,269 12,445 231.489 231,489 16,714 4.051 12.663 218,826 218,826 3,829 12/31/21 16,714 12.885 205,941 (a) Your answer is correct Prepare the journal entries for the purchase of the equipment and the first 2 quarterly payments in 2020 (use Long-Term Loan Payable account). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Debit Credit Date Account Titles and Explanation 308000 Crushing Equipment July 1, 2020 2000 Cash Long-Term Loan Payable INTRO T FULL ST indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for th Date Account Titles and Explanation Debit Credit July 1, 2020 Crushing Equipment 308000 Cash 28000 Long-Term Loan Payable 280000 Interest Expense Sept. 30, 2020 4900 Long-Term Loan Payable 11814 Cash 16714 Interest Expense 4693 Dec. 31, 2020 Long-Term Loan Payable 12021 Cash 16714 SHOW LIST OF ACCOUNTS LINK TO TEXT FULL SCREEN PRINTER VERSION BACK Attempts: 2 of 2 used (b) Your answer is correct. What amourt will be reported for this loan pavable on the company's statement of financial postion at December 31, 2020? Of this amount, how much wil be shown as a current (ability and how much will be shown as long-term? 256,165 Loen Payable so.224 Current Liability 205,941 Long-term Liablity SHOW LIST OF ACCOUNTs SHOW SOLUTsoN LINK TO TEXT nuch will be shown as long-term? Loan Payable 256,165 Current Liability 50,224 Long-term Liablity 205,941 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT v (c1) What amount will be reported as interest expense on the company's income statement for the year ended December 31, 2020? Interest Expense $