On December 31, 2020, Pina Company acquired a press from Sugar Corporation by issuing a $397,000 zero-interest-bearing note, payable in full on December 31, 2023. Pina's credit rating permits it to borrow funds from its several lines of credit at 8%. The press is expected to have a 6-year life and a $36,000 salvage value. (a) Prepare the journal entry for the purchase on December 31, 2020. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to O decimal places e.g. 58,971. 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.)