C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question n Connect Close Browser B Blackboard Learn | : Course Content - 2... X xFinity | Portal Citing a Website in.. Unit 3 AS: Exercises and Problems (Connect) i Saved 10 American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2021. In payment for the $4.4 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 9%. (EV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) points Required: 1. Prepare the journal entry for American Food Services' purchase of the machine on January 1, 2021. eBook 2. Prepare an amortization schedule for the four-year term of the installment note. Hint 3. Prepare the journal entry for the first installment payment on December 31, 2021. 4. Prepare the journal entry for the third installment payment on December 31, 2023. Print References Complete this question by entering your answers in the tabs below. Reg 2 Req 1 3 and 4 Prepare an amortization schedule for the four-year term of the installment note. (Enter your answers in whole dollars.) Effective Interest Decrease in Outstanding Dec.31 Cash Payment Balance Balance 2021 2022 2023 2024 Mc Prev 10 of 10 Next Type here to search O 49 F Mostly 80Purchase of the machine on January 1, 2021. 2. Prepare an amortization schedule for the four-year term of the installment note. 7 3. Prepare the journal entry for the first installment payment on December 31, 2021. points 4. Prepare the journal entry for the third installment payment on December 31, 2023. eBook Complete this question by entering your answers in the tabs below. Hint Print Reg 2 Req 1 3 and 4 References Prepare an amortization schedule for the four-year term of the installment note. ( Enter your answers in whole do Cash Payment Effective Interest Decrease in Outstanding Dec.31 Balance Balance 2021 2022 2023 2024 Req 1 3 and 4 > Mc Previ 10 of 10 Next Graw pe here to search OView transaction list Journal entry worksheet 3 Record the first installment payment on December 31, 2021. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2021 View general journal Record entry Prev 10 of 10 NextJournal entry worksheet Record the purchase of the machine on January 1, 2021. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Prev 10 of 10 Next O\f