Current Attempt in Progress

Sweet Corporation issued a $5-$year, $$76,000,$ zero$-$interest$-$bearing note to Brown Company on January $1,2025,$ and received cash of $$45,102.$ The implicit interest rate is $11\%.$

Prepare Sweet's journal entries for $($a$)$ the January $1$ issuance and $($b$)$ the December $31$ recognition of interest. $($Round answers to $0$ decimal places, eg$.38,548.$ If no entry is required, select $"$No Entry" for the account tittles and entier of for the amounts. Credit account titles are automatically indented when the anount is entered. Do not indent manually. List all debit entries before credit entries.$)$

No$.$

Date

Account Titles and Explanation

Debit

Credi

$($a$)$

$($b$)$