2. Notes Payable. cember 31, 2020, Frank Co. acquired a computer from Pete Co. by issuing a u zero-interest bearing note, payable in full on December 31, 2024. Frank's aung permits it to borrow funds at 10%. The computer is expected to have a 5 ile and a $70,000 salvage value. Prepare the journal entries: (1) for the purchase on December 31, 2020, and (2) for depreciation and amortization on December 31, 2021 and 2022