McCormick Corporation issued a 4-year, $67,200, 5% note to Greenbush Company on January 1, 2014, and received a computer that normally sells for $54,691. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 11%. Prepare McCormicks journal entries for (a) the January 1 issuance and (b) the December 31 interest. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (a) January 1, 2014 (b) December 31, 2014