(Use present value factors in the attached tables for calculations. Do not use a financial calculator.) Randy Corp. had the following transactions in 2019. 1. Randy received a note when making a sale of tractor-trailers to a customer. The note was dated May 1, 2019, and the face value was $1,900,000. The note bore no interest and the client would pay Randy $633,333 on May 1, 2020, 2021, and 2022, to settle the liability. 2. On January 1, 2019, Randy sold plant equipment in exchange for a $200,000 note due on January 1, 2022. The note would pay interest of 3% per year (on January 1, 2020, 2021, 2022). The prevailing rate of interest for a note of this quality at January 1, 2019, however, was 5%. The equipment had a cost of $300,000 and the balance of accumulated depreciation on it was $140,000. 6 3. On June 1, Randy lent $360,000 to key employees, who signed over a 5-year promissory note with the face value of $360,000. The employees would pay 2% interest per year on the note (on June 1 of each year). They would have been required to pay a higher rate (5%) if they had borrowed money from a bank. (a) Prepare journal entries for each of these transactions on the transaction dates. (b) Prepare journal entries required on December 2019 for the note received in Transaction (2).