Sheffield Inc, has decided to purchase equipment from Central industries on January 2, 2022, to expand its production capacity to meet customers' demand for its product. Sheffield issues a $1044.000,5-year, zaro interest-bearing note to Central for the new equipment when the prevaling market rate of interest for obligations of this nature is 11%. The company will pay off the note in five $208,800 installments due at the end of each year over the life of the note. (a) Prepare the journal entry at the date of purchase. (Round factor values to 5 decimal places, eg. 125124 and final answers to 0 decimal places, eg. 5.275. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.)