American food services, inc., acquired a packaging machine from barton and barton corporation. barton and barton completed construction of the machine on january 1, 2018. in payment for the $4 million machine, american food services issued a four-year installment note to be paid in four equal payments at the end of each year. the payments include interest at the rate of 10%. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: 1. prepare the journal entry for american food services’ purchase of the machine on january 1, 2018. 2. prepare an amortization schedule for the four-year term of the installment note. 3. prepare the journal entry for the first installment payment on december 31, 2018. 4. prepare the journal entry for the third installment payment on december 31, 2020.

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.