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Current Attempt in Progress Larkspur Corporation issued a 4-year, $44,000, 2ero-interest-bearing note to Garcia Company on danuary 1, 202,5, and received cash. of $44,000. In

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Current Attempt in Progress Larkspur Corporation issued a 4-year, $44,000, 2ero-interest-bearing note to Garcia Company on danuary 1, 202,5, and received cash. of \$44,000. In addition, Larkspur agreed to sell merchandise to Garcia at an amount less than regular selling price gyor the 4 year period. The market rate of interest for similar notes is 15%. Click here to view factor tables. Prepare Larkspur Corporation's January 1 journal entry. (Round present velue foctor calculatons to 5 decimal ploces es 125124 and final answer to 0 decimal places eg.38,548. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts Gredit. account tities ere outomatically indented when the emount is entered. Do not indent manualls (ist all debli entries before credit entries)

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