On January 1, 2010, Mahler Corporation receives a four-year, $100,000 zero-interest bearing note in payment of goods sold. The present value of the note equals the agreed upon sales price of $65,873.

Assuming Mahler uses the effective interest method to amortize the note's discount, The implicit rate of interest is 11 %

1) prepare the amortization table

2) prepare the journal entry to record the sale on January 1, 2010 and the interest accrual on December 31, 2010 only.