problem 2 and 4

Problem 2 On January 1, Joey, Inc. buys equipment for $10,000. Terms are 10% down the rest in 3 equal annual payments which include interest at 6%. (6% is what the bank would charge you.) The payments start December 31. Prepare an amortization schedule and all the journal entries for each year. Redo Joey with 10% down interest only payments of 2% for 3 years. Prepare an amortization schedule and all the journal entries for each year. Redo Joey with 10% down and 3 equal payments that include interest at 2%. Prepare an amortization schedule and all the journal entries for each year. Problem 38 This is daa from the Marjean Company: Accounts Receivable $100,000 Accounts Payable 30,000 Inventory 80,000 Note Payable 150,000 Fixed Assets $600,000 Owners' Equity 400,000 Accum Deprec 200.000 400,000 Burden Co. will buy Marjean Company for $1,200,000. They estimate the Accounts Receivable are worth $ 96,000, the Inventory is worth $90,000 and the Fixed Assets are worth $800,000. The Note Payable is interest only at 10% with the principal due 5 years from today. Current Interest is 12%. Everything else is worth its book value. Prepare the journal entry for the purchase on Burden Co.'s books. Problem 40 Baker Company needs to decide whether to buy or lease office equipment. Baker can buy the office equipment for $250,000 today, which would require that they borrow the funds from the bank. The bank will charge them 8% and require equal monthly payments over 4 years. They also have the option of leasing the office equipment for either 3 years or 5 years. If they choose to lease for 3 years, they will have to put $10,000 down today and make monthly lease payments of $7,500 and they can purchase the office equipment after the last payment for $5,000. If they opt for the 5-year lease, they need to put $10,000 down today and make monthly payments of $5,000 and they can purchase the office equipment after the last payment for $3,000. Which option is best? Explain with numerical analysis