Question: Pina Corporation issued a 4-year, $50,000,5% note to Greenbush Company on January 1,2025 , and received a computer that normally sells for $35,725 . The

Pina Corporation issued a 4-year,

$50,000,5%

note to Greenbush Company on January 1,2025 , and received a computer that normally sells for

$35,725

. The note requires annual interest payments each December 31 . The market rate of interest for a note similar risk is

15%

.\ Prepare Pina's journal entries for (a) the January 1 issuance and (b) the December 31 interest. (Round answers to 0 decimal places, e.g. 38,548. 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 entereci. Do not indent manually. List all debit entries before credit entries.)\ Date\ Account Titles and Explanation\ Debit\ Credit\ Discount on Notes Payable\ Notes Payable

Pina Corporation issued a 4-year, $50,000,5% note to Greenbush Company on

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