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On December 31,2025 , Metlock Company acquired a computer from Plato Corporation by issuing a $633,000.00 zero-interestbearing note, payable in full on December 31,2029 .

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On December 31,2025 , Metlock Company acquired a computer from Plato Corporation by issuing a $633,000.00 zero-interestbearing note, payable in full on December 31,2029 . Metlock 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 $66,000 salvage value. Click here to view factor tables. (a) Prepare the journal entry for the purchase on December 31, 2025. (Round present volue factor calculations to 5 decimal places, eg. 1.25124 and the final answers to 2 decimal places, es. 58,971.23. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account tities are automotically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

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