By December $31,2023,$ Pina Corp. had performed a significant amount of environmental consulting services for Blossom Ltd$.$ Blossom was short of cash, and Pina agreed to accept a $$183,000,$ non$-$interestbearing note due December $31,2025,$ as payment in full. Blossom is a bit of a credit risk and typically borrows funds at a rate of $15\%.$ Pina is much more creditworthy and has various lines of credit at $9\%.$ Pina reports under IFRS. The tables in this problem are to be used as a reference for this problem.

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

$($a$)$

Your answer is incorrect.

Prepare the journal entry to record the transaction on December $31,2023,$ for Pina. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. 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. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.58,971.)$

Account Titles and Explanation