Marks Company sold goods to Birch Company totaling $51,830 during 2020. When Birch was unable to meet Marks normal terms, Marks accepted from Birch a $60,000, 3-year non-interest-bearing note due 1/1/24. (Marks has accepted notes in the past in settlement of open accounts.) Required: (a) Prepare Marks journal entry on 1/1/21 when the note was signed. (b) Prepare a table which shows the amortization of bond discount over the life of the note. (c) What is the 12/31/22 adjusting entry that will be recorded by Marks? (d) What is the purpose of the journal entry at 12/31/22?