On December 31, 2022, Metlock Inc. borrowed \$83,542 from Par Bank, signing a \$148,000, 6-year, non-interest-bearing note. The note was issued to yicld 10% interest. Unfortunately, during 2023 Metlock began to experience financial difficulty. This was determined to be a significant increase in risk, and at December 31, 2023, Par Bank estimated that it was probable that it would receive only $111.000 at maturity. For simplicity, assume that this reflects the probability-weighted amount. The market rate of interest on loans of this nature is now 13%. Both companies prepare funancial statements in accordance with IFRS 9. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Prepare the entry to record the issuance of the loan by Par Bank on December 31, 2022 (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List debit entry before credit entry.)