E12-18 (similar to) Question Help Consider the following note payable transactions of Crouse Video Productions. Click the icon to view the transactions.) Requirements 1. Journalize the transactions for the company. 2. Considering the given transactions only, what are Crouse Video Productions' total liabilities on December 31, 2019? Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Oct. 1, 2018: Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual principal payments of $8,000 plus interest each October 1. Date Accounts and Explanation Debit Credit 2018 Oct. 1 1 More Info . Oct. 1, 2018 Dec. 31, 2018 Oct. 1, 2019 Dec. 31, 2019 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual principal payments of $8,000 plus interest each October 1. Accrued interest on the note payable. Paid the first installment on the note. Accrued interest on the note payable. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 4 parts remaining Clear All Check