A$1.$ On January $2,2024,$ Wuycik received a promissory note from a customer as consideration in an inventory sale transaction. Wuycik recorded the sale, but it has not yet recorded the interest earned on the note during $2024.$ The $4\%,$$$33,625$ term note requires the customer to pay interest annually each January $1,2025$ through $2027.$ The relevant market rate of interest on the issue date was $8\%.$