An auditor found a transaction that was not recorded at December 31, 2017. Make adjusting entry for the transaction.

Waren Sports purchased a new Ford F-150 truck for $25,000 on December 21, 2017. They financed 100% of the purchase from Bank of America under a 5-year, $25,000 note at 4% interest. The first payment is due January 31, 2018. (Do not record depreciation for 2017.)

Record the purchase of the truck and accrue interest.