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Riverbed Cosmetics Co. purchased machinery on December 31,2024, paying $51,100.00 down and agreeing to pay...

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Accounting

Riverbed Cosmetics Co. purchased machinery on December 31,2024, paying $51,100.00 down and agreeing to pay the balance in four equal installments of $58,400.00 payable each December 31. An assumed interest of 9% is implicit in the purchase price.
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Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates. (Round present value factor to 5 decimal places, e.g.1.23465 and final answers to 2 decimal places, e.g.38,548.23. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
(a) December 31,2024.
(b) December 31,2025.
(c) December 31,2026.
(d) December 31,2027.
(e) December 31,2028.
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