Problem 14-13 (Algo) Note and installment note with unrealistic interest rate [LO14-3] Braxton Technologles, Inc, constructed a conveyor for A\& G Worehousers that was completed and ready for use on January 1,2021 ABG pald for the corveyor by issuing a $100,000, four-year note that specified 5% interest to be paid on December 31 of esch year. and the note is to be repaid at the end of four years. The conveyor was custom-built for AsG, so its cash price was unknown. By comparison with similar transactions it was determined that a reasonable interest rate was 9\%. (FV of S1, PV of \$1. EVA of S1. PVA of St. EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for ABG' purchase of the conveyor on January 1, 2021. 2. Prepsre an amorization schedule for the four-year term of the note. 3. Prepare the jouirnal entry for A\&G s third interest psyment on December 31, 2023. 4. If ABG's note had been an installment note to be paid in four equal payments at the end of each yoar beginning December 31, 2021, what would be the amount of eoch installment? 5. By considering the instaliment payment of requirement 4, prepare an amorthation schedule for the four-year term of the instatlement note. 6. Prepare the journal entyy for A\&G s thicd instaitment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepore the jouma! entry tor ASG thind installent payment on December 31, 2023. (If no enery is required for a transactionvevent, seled "No joumal entoy requiredt in the first account field, pround intermediate caloulations and final answers to the nearert whele dolar.] 4.If A\&G'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 installiment? 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 A\&G's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the fournal entry for ASG's purchase of the conveyor on January 1, 2021. (If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) 4.3 A\&G's note had been an installment note to be paid in four equal payments at the end of esch 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the fouryear term of the note. (hound intermedute calculacions and final answers to the nearest whole obliar.) 4.If ABG's note had been an installment note to be paid in four equal poyments 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 note, 6. Prepare the joumal entry for A\&G's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry for AsG's third interest payment on December 31, 2023. (Hf no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) Required: 1. Prepare the joumal 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 A\&G's third interest payment on December 31, 2023. 4.If A\&G'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 installment? 5. By considering the instaliment payment of requirement 4, prepare an amortization schedule for the four-year term of the instaliment note 6. Prepare the journal entry for A\&G's third installment payment on December 31,2023. Answer is not complete. Complete this question by entering your answers in the tabs below. If AsGis note had been an instaliment 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 4.If ABG'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. Ay considering the installment payment of requirement 4, prepare an amortizotion schedule for the fouf-year term of the installment note. 6. Prepare the Joumal entry for ASG's third instaliment payment on December 31, 2023. \& Answer is not complete. Complete this question by entering your answers in the tabs below. By considering the installment payment of requirenent 4, prepare an amortization schedule for the four-year term of the instaliment note. (Round intermediate calculations and final answers to the nearest whole dollar.) 4.If A\&G 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 installment? 5. By considering the installment poyment of requlrement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the joumal entry for AsG's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry for AsGs third instaliment payment on December 31, 2023. (tt no entry is required for a transactionevent, select "No journal entry requited" in the fiest accoumt feld plound intermediate calculations and final answers to the nesrest whole dollac) Problem 14-13 (Algo) Note and installment note with unrealistic interest rate [LO14-3] Braxton Technologles, Inc, constructed a conveyor for A\& G Worehousers that was completed and ready for use on January 1,2021 ABG pald for the corveyor by issuing a $100,000, four-year note that specified 5% interest to be paid on December 31 of esch year. and the note is to be repaid at the end of four years. The conveyor was custom-built for AsG, so its cash price was unknown. By comparison with similar transactions it was determined that a reasonable interest rate was 9\%. (FV of S1, PV of \$1. EVA of S1. PVA of St. EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for ABG' purchase of the conveyor on January 1, 2021. 2. Prepsre an amorization schedule for the four-year term of the note. 3. Prepare the jouirnal entry for A\&G s third interest psyment on December 31, 2023. 4. If ABG's note had been an installment note to be paid in four equal payments at the end of each yoar beginning December 31, 2021, what would be the amount of eoch installment? 5. By considering the instaliment payment of requirement 4, prepare an amorthation schedule for the four-year term of the instatlement note. 6. Prepare the journal entyy for A\&G s thicd instaitment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepore the jouma! entry tor ASG thind installent payment on December 31, 2023. (If no enery is required for a transactionvevent, seled "No joumal entoy requiredt in the first account field, pround intermediate caloulations and final answers to the nearert whele dolar.] 4.If A\&G'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 installiment? 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 A\&G's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the fournal entry for ASG's purchase of the conveyor on January 1, 2021. (If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) 4.3 A\&G's note had been an installment note to be paid in four equal payments at the end of esch 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the fouryear term of the note. (hound intermedute calculacions and final answers to the nearest whole obliar.) 4.If ABG's note had been an installment note to be paid in four equal poyments 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 note, 6. Prepare the joumal entry for A\&G's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry for AsG's third interest payment on December 31, 2023. (Hf no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) Required: 1. Prepare the joumal 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 A\&G's third interest payment on December 31, 2023. 4.If A\&G'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 installment? 5. By considering the instaliment payment of requirement 4, prepare an amortization schedule for the four-year term of the instaliment note 6. Prepare the journal entry for A\&G's third installment payment on December 31,2023. Answer is not complete. Complete this question by entering your answers in the tabs below. If AsGis note had been an instaliment 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 4.If ABG'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. Ay considering the installment payment of requirement 4, prepare an amortizotion schedule for the fouf-year term of the installment note. 6. Prepare the Joumal entry for ASG's third instaliment payment on December 31, 2023. \& Answer is not complete. Complete this question by entering your answers in the tabs below. By considering the installment payment of requirenent 4, prepare an amortization schedule for the four-year term of the instaliment note. (Round intermediate calculations and final answers to the nearest whole dollar.) 4.If A\&G 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 installment? 5. By considering the installment poyment of requlrement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the joumal entry for AsG's third installment payment on December 31, 2023. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry for AsGs third instaliment payment on December 31, 2023. (tt no entry is required for a transactionevent, select "No journal entry requited" in the fiest accoumt feld plound intermediate calculations and final answers to the nesrest whole dollac)