$($i$)($Click the icon to view the transactions.$)$

Requirements

Journalize the transactions for the company.

Considering the given transactions only, what are Caroll Video Productions' total liabilities on December $31,2025?$

Requirement $1.$ Journalize the transactions for the company. $($Record debits first, then credits. Select explanations on the last line of the journal entry.$)$

Sep. $1,2024$: Purchased equipment costing $$270,000$ by issuing a nine$-$year, $7\%$ note payable. The note requires annual principal payments of $$30,000$ plus interest each September $1.$