Collins Corporation purchased a computer on December 31,2014, paying $30,000 down and a further $75,000 payment due on December 31,2017. An interest rate of 10% is implicit in the purchase price. Collins uses effective interest method and has a December 31 year end. Collins prepare financial statements in accordance with ASPE. instructions (a) prepare the journal entry(ies) at purchase date. (b) Prepare journal entry(ies) required on December 31,2015,2016 and 2017. (c) can Collins choose a different method of amortizing any premium or discount on its notes payable? Explain