Problem 14-11 Note with unrealistic interest rate [L014-3] At January 1, 2018, Brant Cargo acquired equipment by issuing a five-year, $200,000 (payable at maturity), 6% note. The market rate of interest for notes of similar risk is 12%. (FV of $1, PV of $1, FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor (s) from the tables provided.) ts Required: 1. to 3. Prepare the necessary journal entries for Brant Cargo. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar) eBook References View transaction list View journal entry worksheet Credit 13,486 86,514 1 Record the purchase of equipment. 200,000 2 Record the interest expense. 3 Record the interest expense. Note: journal entry has been entered O Type here to search [D