On December 31, 2017, Crane Company borrowed $ 69,348 from Paris Bank, signing a 5-year, $ 106,700 zero-interest-bearing note. The note was issued to yield 9% interest. Unfortunately, during 2019, Crane began to experience financial difficulty. As a result, at December 31,2019, Paris Bank determined that it was probable that it would receive back only $ 80,025 at maturity. The market rate of interest on loans of this nature is now 10%. Your answer is correct. Prepare the entry to record the issuance of the loan by Paris Bank on December 31.2017.(Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g.5,.275. Ifno 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.) Debit Credit Date Account Titles and Explanation 106700 Dec. 31, 2017 Notes Receivable Discount on Notes Rec 69348 Cash