Problem 14-13 (Algo) Note and installment note with unrealistic interest rate (L014-3) Braxton Technologies, Inc, constructed a conveyor for A&G Warehousers that was completed and ready for use on January 1, 2021 A&G pold 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 12% (FV of S1 PV of $1. FVA of S1 PVA of $1. PVAD of S1 and PVAD of $(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 on 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, 2023. 4.lt A&G's note had been on 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 installment? 5. By considering the installment payment of requirement 4 prepare an amortization schedule for the four-year term of the installment 6. Prepare the journal entry for A&G's third installment payment on December 31, 2023 note Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required 5 Required Prepare the journal entry for ABG's third Interest payment on December 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round intermediate calculations and final answers to the nearest whole dolar) View transactional