On January $1,2023,$ Easterland Company purchased land by paying $$5000$ down and signing a noninterest$-$bearing note agreeing to make equal payments of $$8000$ on December $31$ of the years $2023$ through $2036.$ A ten percent interest rate would have been appropriate for this transaction. Prepare all entries related to the acquisition and subsequent payments for $2023.$ The company has a December $31$ year end.