Sabonis Cosmetics Co. purchased machinery on December 31, 2019, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) December 31, 2019. (b) December 31, 2020. (c) December 31, 2021. (d) December 31, 2022. (e) December 31, 2023.

No.	Account Titles and Explanation	Debit	Credit
(a)	Machinery	182,485
	Discount on Notes Payable	27,515
	Cash		50,000
	Notes Payable		160,000
(b) (1)	Notes Payable	40,000
	Cash
(b) (2)
	Discount on Notes Payable		10,599
(c) (1)	Notes Payable
	Cash
(c) (2)
(d) (1)	Notes Payable
	Cash
(d) (2)
(e) (1)	Notes Payable
	Cash
(e) (2)