Could you please help me correct the red cases? Thank you.

Kieso, Intermediate Accounting, 16e Intermediate Accounting (ACCT 3103 and 311 NEXT Exercise 14-18 Your answer is partially correct. Try again. On January 1, 2017, Margaret Avery Co. borrowed and recelived $400,000 from a major customer evidenced by a zero-interest-bearing note due in 3 years. As consideration for the zero-interest-bearing feature, Avery agrees to supply the customer's inventory needs for the loan period at lower than the market price. The appropriate rate at which to impute interest is 8%. (a) Prepare the journal entry to record the initial transaction on January 1, 2017 (b) Prepare the journal entry to record any adjusting entries needed at December 31, 2017. Assume that the sales of Avery's product to this customer occur evenly over the 3-year period. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places e.g. 58,971. If no entry bs required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (a) January 1, 2017 iscount on Notes Payable Notes Payable (b) December 31, 2017 Tunearned Sales Revenue 2748 27489