Flint Corp. was experiencing cash flow problems and was unable to pay its $\backslash (\backslash$$ $105,000\backslash )$ account payable to Bramble Corp. when it fell due on September $30,2023.$ Bramble agreed to substitute a one$-$year note for the open account. The following two options were presented to Flint by Bramble:

Option $1$: A one$-$year note for $\backslash (\backslash$$ $105,000\backslash )$ due September $30,2024.$ Interest at a rate of $\backslash (8\backslash \%\backslash )$ would be payable at maturity.

Option $2$: A one$-$year non$-$interest$-$bearing note for $\backslash (\backslash$$ $113,400\backslash ).$ The implied rate of interest is $\backslash (8\backslash \%\backslash ).$

Assume that Bramble has a December $31$ year end.

$($a$)$

Your answer is correct.

Assuming Flint chooses Option $1,$ prepare the entries required on Bramble's books on September $30,2023,$ December $31,2023,$ and September $30,2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Attempts: $2$ of $3$ used

$($b$)$

Assuming Flint chooses Option $2,$ prepare the entries required on Bramble's books on September $30,2023,$ December $31,2023,$ and September $30,2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$