The Gold Company, a publicly accountable entity, purchased equipment on December 31, 20x2. The equipment could have been purchased for a cash price of $2,000,000 but the Gold Company opted to sign a note payable with the following terms: - interest payments of $60,000 on December 31, 20x3, 20x4 and 20x5, and - a final payment of $2,200,000 on December 31, 20x5. Prepare all journal entries relative to this note for Gold Company for the years ending December 31, 20x2 and 20x3