Cullumber Corporation issued a 4 -year, $70,000, zero-interest-bearing note to Brown Company on January 1,2020 , and received cash of $44,488. The implicit interest rate is 12%. Prepare Cullumber's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest. (Round answers to 0 decimal places, es 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are eutomatically indented when amount is entered. Do not indent manuallys