This question has 4 requirements. make sure to answer all of them (1a, 1b, 2 and 3)

Please make the answers as clear as you can. Don't answer unless you %100 sure of the answers. Thanks.

Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made 2. Prepare an amortization schedule for the three-year term of the note lathe. The machine was completed and ready for use on January 1, 2016. Amber paid for the lathe by issuing a $800,000, three-year note that specified 6% interest, payable annually on December 31 of each year. The cash market price of the lathe was unknown. It was determined by comparison with similar transactions that 11% was a reasonable rate of interest. (FV of $1, PV of $1. EVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Effective Cash Payment Interest Increase in Outstanding Balance Balance Required 1-a. Complete the table below to determine the price of the equipment 2 able values are based on: Total 3. Prepare the I entries to record (a) interest for each of the three years and (b) the note at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Cash Flow Interest Principal Amount Present Value view transaction list journal entry worksheet Price of machinery Event General Journal Debit Credit Interest expense Discount on notes payable Cash 1-b. Prepare the journal entry on January 1, 2016, for Amber Mining and Milling's purchase of the lathe. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Interest expense Discount on notes payable Cash view transaction li journal entry worksheet Date General Journal Debit Credit January 01, 2016 Equipment Discount on notes payable Interest expense Discount on notes payable Cash Notes payable 800,000 Notes payable 800,000 Cash 800,000