On January 1, 2025, Sheffield Company issued a $1,223,250, 5-year, zero-interest-bearing note to Tamarisk Bank. The note was issued to yield 11% annual interest. Unfortunately, during 2026 Sheffield fell into financial trouble due to increased competition. After reviewing all available evidence on December 31, 2026, Tamarisk Bank decided that the loan was impaired. Sheffield will probably pay back only $815,500 of the principal at maturity. (a) Prepare journal entries for both Sheffield Company and Tamarisk Bank to record the issuance of the note on January 1, 2025. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Sheffield Company (Debtor): Debit Credit Tamarisk Bank (Creditor):