On September $1,2023,$ Metlock, Ine sold goods to Bridgeport Corp, a new customer. Before shipping the goods, Metlock's credit and

collections department conducted a credit cheok and determined that Bridgeport is a high credit$-$risk customer. As a result, Metlock

die not provide Bridgeport with open credit by recording the sale as an account receivable. Insteed, Metlock required Bridzeport to

provide a non$-$interest$-$bearinz promissory note for $$44,800$ face value, to be repaid in one year. Bridgeport has a credit rating that

requires it to pey $1298$ interest on borrowed funds. Metlock pays $1098$ interest on a loen recently obteined from its loeal benk Matlock

has a December $31$ year end and follows IFRS.

Cliek hane to view the factor table PRESENT VALUE OF $1.$

Click hane to view the factor table PRESENT NALUE OF AN ANNUITY OF $1.$

$(a)$

Prepare the antries required on Metlockts booles to record the sele, annual adjusting entry, and col ection of the notes full face

value. Far calculatian punposes, use S decinal places as displayed in the factar table provided. Credit account tities are cutbanatically

indented ahen the amount is entered. Do not indent manualle if no entry is required, select" $"$o Entry" for the account titles and enter O for

the amounts. Recand oumel enties in the oder presented in the prublem. List cil debit entries before credit entries$)$