On January 1, 2017, Cheyenne Company issued a $1,224,300, 5-year, zero-interest-bearing note to Ayayai Bank. The note as issued to yield 8% annual interest. Unfortunately, during 2018 Cheyenne fell into financial trouble due to increased competition. After reviewing all available evidence on December 31, 2018, Ayayai Bank decided that the loan was impaired. Cheyenne will probably pay back only $816,200 of the principal at maturity. Your answer is partially correct. Try again. Prepare journal entries for both Cheyenne Company and Ayayai Bank to record the issuance of the note on January 1, 2017. (Round present value factor calculations to 5 decimal places, e.o. 1.25124 and final answers to O decimal places, e.g. 5,275. If no entry is required, select No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually,) No. Account Titles and Explanation Debit Credit Chevenne Company (Debtor): 1.[Petty Cash 833259 Discount on Notes Receivable 391,041 Notes Payable 1,224,300