Problem 14-9 You' answer is partially correct. Try again. interest of 10% is implot in the purchase price. on Decombar 31, 2016, paing $54,60 don and agreeng to pay the belance in four eual nstallnens of $59,200 ayablbr 31. An assuned Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) Interest is requfred, select "No Entry for the account titles and enter 0 for the amounts Credit account titles on the following dates. (Round answers to 0 decimal places, eg. 38,548 1f no entry are automatically indented when amount is entered. Do not indent manually) (a) December 31, 2016 (b) December 31, 2017 (e) December 31, 2018 (d) December 31, 2019 () December 31, 2020 No. Account Titles and Explanation () Machinery Debit Credit 242256 Discount Notes Poyatle 49144 Notes Pwysbie (b) (1) Interest Expense oncount on Notes Payable 18760 (b) (2) Notes Payable (b) (2) Notes Payable 59200 Cash 59200 (e) (a) Interest Payable 14722 Discount on Notes Payable 14722 (c) (2) Notes Payable 59200 59200 Cash (d) (1) Interest Payable 10274 10274 Discount on Notes Payable 59200 (d) (2) Notes Payable 59200 Cash 5382 (e) (1) Interest Payable 5382 Discount on Notes Payable 59200 (e) (2) Notes Payable 59200 Cash