On January $1,2024,$ Byner Company purchased a used tractor. Byner paid $$7,000$ down and signed a noninterest$-$bearing note requiring $$36,000$ to be paid on December $31,2026.$ The fair value of the tractor is not determinable. An interest rate of $10\%$ properly reflects the time value of money for this type of loan agreement. The company$$s fiscal year$-$end is December $31.$Note: Use tables, Excel, or a financial calculator.$($FV of $$1,$PV of $$1,$FVA of $$1,$PVA of $$1,$FVAD of $$1$and$$PVAD of $$1)$Required:Prepare the journal entry to record the acquisition of the tractor.How much interest expense will the company include in its $2024$ and $2025$ income statements for this note?What is the amount of the liability the company will report in its $2024$ and $2025$ balance sheets for this note?