Problem 14-13 (Algo) Note and installment note with unrealistic interest rate [LO14-3] Braxton Technologles, Inc, constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 1, 2021. A\&G poid for the conveyor by issuing a $100,000, four-year note that specified 5% interest to be pald on December 31 of each yeat, 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 simlar transactions it was determined that a reasonoble interest rate was 9%. (EV of \$1, PV of \$1, EVA of \$1, PVA of \$1. PVAD of S1 and RVAD of Si) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2021. 2. Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for ASG's third interest poyment on December 31,2023. 4.If A\&G's note had been an installment note to be poid in four equal payments at the end of each year beginning December 31,2021. 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 AsG's third installment payment on December 31,2023 . Complete this question by entering your answers in the tabs below. If ASG's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2021, what would be the amount of each instaliment? (Round intermediate calculations and final answer to the nearest whole dollar)