Spruce Up Landscaping purchased a new fleet of trucks for their landscaping business on January 1, 2022. In order to finance the purchase, Spruce it up obtained a four-year non interit bearing ite with a face value of $635,200. At the time, the interest rate being offered on similar loans was 8.5% Spruce it sip will repay the note in four equal instalments on December 31st. They have a December 31st year-end follow IFRS and use the effective interest method to amortime any premium or discount 9 10 Required 11) Prepare any required journal entries at the date of purchase. (3 marks) 12 Prepare the journal entries required to record the payment and interest at December 31, 2022 13) Prepare the journal entries required to record the payment and interest at December 31, 2023 (4 marks) (4 marks) 14 9 Spruce It Up Landscaping purchased a new fleet of trucks for their landscaping business on January 1, 2022. In order to finance the purchase, Spruce It Up obtained a four-year non interest-bearing with a face value of $635,200. At the time, the interest rate being offered on similar loans was 8.5% Spruce it up will repay the note in four equal instalments on December 31st. They have a December 31st year-end, follow IFRS and use the effective interest method to amortize any premium or discount 10 Required 13) Prepare any required journal entries at thdate of purchase (marks) 12 b) Prepare the journal entries required to record the payment and interest at December 31, 2022 (4 marks) 13 ) Prepare the journal entries required to record the payment and interest at December 31, 2023 (4 marks) 14 15 Be sure to show all of your work and calculations! You may round all calculations to ZERO decimal places 16