Question: Problem 2: MKE Printing Company purchased a new 3D printer on July 1, 2022 for $250,000. To pay for the printer, MKE Printing issues

Problem 2: MKE Printing Company purchased a new 3D printer on July

Problem 2: MKE Printing Company purchased a new 3D printer on July 1, 2022 for $250,000. To pay for the printer, MKE Printing issues a two-year installment note. The note will be paid in four (4) equal payments. Payments will be every six months on December 31, 2022, June 30, 2023, December 31, 2023, and June 30, 2024. The interest rate on the installment note is 8% APR. Show the Present Value and Future Value factors needed. REQUIRED: Prepare the following entries for KME Printing Company. 2-1 2-2 2-3 Prepare the July 1, 2022 journal entry to record the purchase and note. Prepare an amortization schedule for the installment note. Prepare the December 31, 2023 journal entry to record the installment payment.

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