First Choice Company buys equipment on October 1, 2020, providing as payment a noninterest-bearing note for \(\$ 20,000\) to be paid one year from today. The equipment could be purchased for \(\$ 18,182\) in cash today. Record the entries for First Choice Company on the following dates.

a. Issuance of the note on October 1,2020.

b. Adjusting entry on December 31, 2020, First Choice Company's fiscal year-end. Amortize the discount on the note using the straight-line method.

c. Payment of the note payable on October \(1,2021\).