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P14-8 (LO3) (Entries for Zero-Interest-Bearing Note) On December 31, 2017, Faital Company acquired a computer frorm Plato Corporation by issuing a $600,000 zero-interest-bearing note, payable in full on December 31, 2021. Faital Company's credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to have a 5-year life and $70,000 salvage value