Problem 14-13 Note and installment note with unrealistic interest rate (LO14-3) Braxton Technologies, Inc. constructed a conveyor for A&G Warehouses that was completed and ready for use on January 1, 2018 A&G paid for the conveyor by issuing a $100.000, four year note that specified 695 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 AG, so its cash price was unknown. By comparison with similar transactions it was determined that a reasonable interest rate was 119 VOLS.PV of SLEVA VAS EVAD ST and PVADOS Use appropriate factors from the tables provided Required: 1. Prepare the joumal entry for A&G's purchase of the conveyor on January 1, 2018 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, 2020 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, 2018 what would be the amount of each installment? 5. By considering the installment payment of required 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, 2020 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required Required 6 Prepare the journal entry for AG purchase of the conveyor on January 1, 2018 No journal entry required the first accounced Enter your answers in whole d istered for transactionavent, select ans View transaction list Journal entry worksheet Record ASC's purchase of the conveyor. Note Enterdetits before tradita. Date January 01, 2018 Generalamat Debit Credit Record entry Clear entry View general journal