On January 1, 2022, Information Company purchased an asset with a cash equivalent value of $88,000. Arrangements were made with the supplier to pay $19,000 cash on January 1,2022 , and the balance was to be paid over a three-year period, with equal annual payments of $28,728 to be made at the end of 2022,2023 , and 2024. Each payment will include principal plus interest on the unpaid balance at 12% per year. (FV of $1,PV of $1,FVA of $1, and PVA of $1 ) Note: Use a financial calculator to answer the question(s) below. Required: A. Complete the following table: B. Prepare the journal entry for the payment on December 31, 2023. Complete this question by entering your answers in the tabs below. Complete the following table: Note: Round each answer to nearest whole dollar
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