Use Present Value Tables or your calculator to complete the requirements below. Ramon Company signed notes to make the following two purchases on January 1, 2020: a new truck for $51.000 with payment deferred until December 31, 2021. The appropriate interest rate is 9% compounded annually. b. a small building from Wandrow Builders. The terms of the purchase require a $75,000 payment at the end of each quarter, beginning March 31, 2020, and ending June 30, 2022. The appropriate interest rate is 2% per quarter. Required: Round your answers to the nearest cent, if rounding is required. 1. Complete the information needed to prepare a cash flow diagrams for these two purchases 2 9 years per year Amount Payment Deposit 12/31/21 1/1/20 Unknown present value amount 51,000 10 2 quarters % per quarter i Amount of Payment or Deposit 3/31/20 6/30/20 9/30/20 6/30/22 1/1/20 Unknown present value amount Feedback Check My Work Partially correct 2. Prepare the entries to record these purchases in Ramon's Journal a Truck Note Payable Building Note Payable Feedback Check My Work Partially correct 3. Prepare the cash payment and interest expense entries for purchase b at March 31, 2020, and June 30, 2020. If an amount box does not require an entry, leave it blank. March 31, 2020 Interest Expense Note Payable Cash June 30, 2020 Interest Expense Note Payable Cash Feedback Check My Work Partially correct 4. Prepare the adjusting entry for purchase a at December 31, 2020. Dec 31, 2020 Interest Expense Note Payable