Metlock Corporation issued a $5-$year, $$78,000,$ zero$-$interest$-$bearing note to Brown Company on January $1,2025,$ and received cash

of $$38,780.$ The implicit interest rate is $15\%.$

Prepare Metlock's journal entries for $($a$)$ the January $1$ issuance and $($b$)$ the December $31$ recognition of interest. $($Round answers to O

decimal places, e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are

automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$