Marigold Corporation bought a computer on December 31, 2020, paying $35,000 down with a further $89,000 payment due on December 31, 2023. An interest rate of 8% is implicit in the purchase price. Marigold uses the effective interest method and has a December 31 year end. Marigold prepares financial statements in accordance with ASPE. 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) New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct. Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, prepare the journal entry at the purchase date. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275. 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.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020