On December 31, 2017, Concord Company acquired a computer from Plato Corporation by issuing a $633,000 zero-interest-bearing note, payable in full on December 31, 2021. Concord Companys credit rating permits it to borrow funds from its several lines of credit at 12%. The computer is expected to have a 5-year life and a $66,000 salvage value.

repare the journal entry for the purchase on December 31, 2017.

Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2018.

Schedule of Note Discount Amortization
Date		Debit, Interest Expense Credit, Discount on Notes Payable		Carrying Amount of Note Prepare any necessary adjusting entries relative to depreciation and amortization on December 31, 2019.