On January 1, 2014, Field Furniture Co. borrowed $4,107,000 (face value) from Gary Sinise Co., a major customer, through a zero-interest-bearing note due in 4 years. Because the note was zero-interest-bearing, Field Furniture agreed to sell furniture to this customer at lower than market price. A 9% rate of interest is normally charged on this type of loan. a. Prepare the journal entry to record this transaction. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

b. Determine the amount of interest expense to report for 2014. (Round answer to 0 decimal places, e.g. 38,548.)