Marin Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2025, to expand its production capacity to meet customers' demand for its product. Marin issues an $610,000,5-year, zero-interest-bearing note to Central Michigan for the new equipment when the prevailing market rate of interest for obligations of this nature is 7%. The company will pay off the note in five $122,000 installments due at the end of each year over the life of the note. (a) Prepare the fournal entry at the date of purchase. (Round foctor volues to 5 decimal ploces, es. 1.25124 and final answers to 0 decimal ploces, es. 5,275. Credit account tities are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries.)