Problem 14-13 (Algo) Note and installment note with unrealistic interest rate [LO14-3] Braxton Technologies, Inc., constructed a conveyor for A\&G Warehousers that was completed and ready for use on January 1, 2021 . A\&G paid for the conveyor by issuing a $100,000, four-year note that specified 4% interest to be paid on December 31 of each year, and the note is to be repaid at the end of four years. The conveyor was custom-built for A\&G, so its cash price was unknown. By comparison with similar transactions it was determined that a reasonable interest rate was 9%. (FV of \$1, PV of \$1. FVA of \$1. PVA of \$1. FVAD of $1 and PVAD of \$1) (Use oppropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1,2021. 2.Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A8G's third interest payment on December 31, 2023. 4.If A\&G's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2021 . what would be the amount of each installment? 5. By considering the installment payment of requirement 4. prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the journal entry for A\&G's third instaliment payment on December 31, 2023. Complete this question by entering your answers in the tabs below. Prepare the journal entry for ABG's purchase of the conveyor on January 1. 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and finit answers to the nearest whole doilar.) Prepare the journal entry for A\&G's purchase of the conveyor on January 1, 2021. (If no entry is required for a transa "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest 1. Record A8G's purchase of the conveyor. 6. Prepare the journal entry for A\&G's third instaliment payment on December 31, 2023. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the four-year term of the note. (Round intermediate calculations and final answers to nearest whole dollar.) Prepare the journal entry for A8G's third interest payment on December 31, 2023. (If no entry is required for a transaction/ever "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole doll 1 Record A\&G's third interest payment. Required: 1. Prepare the journal entry for A\&G's purchase of the conveyor on January 1,2021. 2.Prepare an amortization schedule for the four-year term of the note. 3. Prepare the journal entry for A\&G's third interest payment on December 31, 2023. 4.If A\&G's note had been an instaliment note to be paid in four equal payments at the end of each year beginning December 31,2021 , what would be the amount of each instaliment? 5. By considering the installment payment of requirement 4, prepare an amortization schedule for the four-year term of the installment note. 6. Prepare the joumal entry for A\&G's third instaliment payment on December 31, 2023. Complete this question by entering your answers in the tabs below. If AsG's note had been an installment note to be paid in four equal payments at the end of each year beginning December 31 , 2021, what would be the amount of each installment? (Round intermediate calculations and final angwer to the nearest whole By considering the installment payment of requirement 4 , prepare an amortization schedule for the four-year term of the installment note. (Round intermediate calculations and final answers to the nearest whole dollar.) Prepare the journal entry for A\&G's third installment payment on December 31,2023 . (If no entry is required for a transaction select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest w dollar.) 1 Record A8G's third installment payment