Prepare journal entries for the following chronological transaction which took place in 2021 Borrowed $300,000 at the bank on may 1, 2020, and signed ten year, 7 note at the bank This note requires payment of interest annually on April 30, the entire principle is due at maturity Purchased a $42,000 piece of equipment on October 1,2020 and signed three years 9 note with the equipment dealer This purchase requires a $2,000 down payment and monthly payments of PRINCIPAL AND INTEREST at the end of each month for the following three years (36 month) with interest compounded monthly, Record the entries on October 1, October 31, and December 31 st On December 31st, 2020 accrued interest on note in part a Prepare an amortization table for 30 six months of not impact B the table should have a separate column for each month October 2020, November 2020, December 2020 and January 2021 etc the beginning balances each month, the amount of payment each month, the amount of interest each month, amount of principle each month, and ending balance each month It would probably be a good idea to use a spreadsheet for this table Prepare list of current liabilities and the amounts from the above transactions which should be reported on the balance sheet on December 31st, 2020 Prepare at least of non current it liability and the amount from the above transactions which should be reported on the balance sheet on December 31st 2020

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Prepare journal entries for the following chronological transaction which took place in 2021.

Borrowed $300,000 at the bank on may 1, 2020, and signed ten year, 7% note at the bank . This note requires payment of interest annually on April 30, the entire principle is due at maturity.
Purchased a $42,000 piece of equipment on October 1,2020 and signed three years 9% note with the equipment dealer. This purchase requires a $2,000 down payment and monthly payments of PRINCIPAL AND INTEREST at the end of each month for the following three years (36 month) with interest compounded monthly, Record the entries on October 1, October 31, and December 31^st
On December 31st, 2020 accrued interest on note in part a.

Prepare an amortization table for 30 six months of not impact B the table should have a separate column for each month October 2020, November 2020, December 2020 and January 2021 etc. the beginning balances each month, the amount of payment each month, the amount of interest each month, amount of principle each month, and ending balance each month. It would probably be a good idea to use a spreadsheet for this table.

Prepare list of current liabilities and the amounts from the above transactions which should be reported on the balance sheet on December 31st, 2020.

Prepare at least of non-current it liability and the amount from the above transactions which should be reported on the balance sheet on December 31st 2020.