board S Font Paragraph Normal No Spac... Heading Heading Select- Styles Editing On January 1, 2017, Splish Brothers Inc. borrowed and received $210,000 from a major customer, Culver Corp. The debt is evidenced by a zero-interest-bearing note due in 4 years. Splish Brothers, as consideration for the zero-interest-bearing feature of the note, agrees that it will supply inventory to Culver for the loan period at a below-market price. The appropriate rate at which to impute interest is 10%. Prepare the journal entry to record the initial transaction on January 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Account Titles and Explanation - Credit Prepare the journal entries to record any adjusting entries needed at December 31, 2017, Assume that the sales of Salish Brothers product to Culver occur 25 percent in vear 1. 25 percent in year 2, 15 percent in year 3, and 35 percent in year 4 (Credit account titles are automatically indented when the amount is entered. Do not infant manually. If no entry is required select "No Entry" for the account titles and enter 0 for the amounts Account Titles and Explanation Debit Credit 301