Do not need 1-a or 2. Done only help with 1-b & 3 please and thank you!

2.00 points Exercise 14-18 Note with unrealistic interest rate; lender; amortization schedule [L014-31 Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a oustom-made lathe. The machine was completed and ready for use on January 1, 2016. Amber paid for the lathe by a$750,000, three-year note that spoofed 4% 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 12% was a reasonable rate of interest EyofS1. PyofS1. EVAofS1. PVAoS. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1a. Complete the below table to prepare the company's jounal entry. 120% S 30,0oo $ 5 750,000 72,054 533,835 605 889 Price of maci ary S 1-b. Prepare the journal entry on January 1, 2016, for Truasx Corporation's sale of the lathe. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account ield.) View transaction list Journal entry worksheet Record for Truax Corporation's sale of the lathe. Air esc F6 4