On December 31, 2020, Pina Company acquired a press from Sugar Corporation by issuing a $370,000 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 $34,000 salvage value. (a) Your answer is partially correct. 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.) Date December 31, 2020 Account Titles and Explanation Equipment Discount on Notes Payable eTextbook and Media List of Accounts Notes Payable Debit Credi 340400 29600