Consider the following note payable transactions of 2. Considering the given transactions? only, what areCabalVideo? Productions' total liabilities on December? 31,2019?? Requirement 1.Journalize the...

Consider the following note payable transactions of

2.	Considering the given transactions? only, what areCabalVideo? Productions' total liabilities on December? 31,2019??

Requirement 1.Journalize the transactions for the company.?(Record debits? first, then credits. Select explanations on the last line of the journal? entry.)Jun.?1,2018?:Purchased equipment costing$120,000by issuingaten?-year,5?%note payable. The note requires annual principal payments of$12,000plus interest eachJune1.

Date	Accounts and Explanation	Debit	Credit
2018
Jun. 1	Equipment	120,000
	Interest Revenue	6000
	Interest Expense

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