On January 1, 2016, Byner Company purchased a used tractor. Byner paid $5,000 down and signed a noninterest-bearing note requiring $32,000 to be paid on December 31, 2018. 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. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry to record the acquisition of the tractor. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the acquisition of the tractor. Note: Enter debits before credits. Event General Journal Debit Credit 1