On December 31, 2020, Coronado Company acquired a computer from Plato Corporation by issuing a $591,000 zero-interest- bearing note, payable in full on December 31, 2024. Coronado Company's 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 $63,000 salvage value. (b) Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2021. (Round answers to 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 amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date December 31, 2021 (To record the depreciation.) December 31, 2021 (To amortize the discount.) (To amortize the discount.) Schedule of Note Discount Amortization Debit, Interest Expense Credit, Carrying Amount Discount on Notes Payable of Note Date 12/31/20 $ $ 12/31/21 12/31/22 12/31/23 12/31/24 Save for Later Attempts: 0 of 3 used Submit