On December 31, 2020, Flint Company acquired a computer from Plato Corporation by issuing a $574,000 zero-interest-bearing note, payable in full on December 31, 2024. Flint 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 $76,000 salvage value.

Prepare the journal entry for the purchase on December 31, 2020.