Bridgeport Inc has decided to purchase equipment from Central Michigan Industries on January 2 2020, to expand its production capacity to meet customers' demand for its product. Bridgeport issues a(n) $ 960,000. 5-year, zero-interest-bearing note to Central Michigan for the new equipment when the prevailing market rate of interest for obligations of this nature is 12%. The company will pay off the note in five $ 192.000 installments due at the end of each year over the life of the note. rk Question 6 of 10 0.69/1 E (C) Your answer is partially correct. Prepare the journal entry at the end of the second year to record the payment and interest. (Round answers to decimal places e$. 5.275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Interest Note Pava 192000 Discount on Natale Cash 192000 eTextbook and Media List of Accounts Attempts: 1 of 5 used Submit Answer Save for Later