5 BE14-11 McCormick Corporation issued a 4-year, $40,000,5% note to Greenbush Company on January 1, 2015, and received a computer that normally sells for $31,495. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 12%. Prepare McCormick's journal entries for (a) the January 1 issuance and (b) the December 31 interest. 5 BE14-12 Shlee Corporation issued a 4-year, 60,000, zero-interest-bearing note to Garcia Company on January 1, 2015, and received cash of 60,000. In addition, Shlee agreed to sell merchandise to Garcia at an amount less than regular selling price over the 4-year period. The market rate of interest for similar notes is 12%. Prepare Shlee Corporation's January 1 journal entry. B BE14-13 On January 1, 2015, Henderson Corporation retired $500,000 of bonds at 99. At the time of retire- ment, the unamortized premium was $15,000. Prepare Henderson's journal entry to record the reacquisi- tion of the bonds