Please solve the problam correctly and show work. Sub:acc $203$

Ivanhoe Corporation issued a $4-$year, $$66,000,$ zero$-$interest$-$bearing note to Brown Company on January $1,2025,$ and received cash of $$43,476.$ The implicit interest rate is $11\%.$

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

Date

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

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