On January 1 Concord Corp. lent $50,000 to Skysong Ltd., accepting Skysong's $66,550, three-year, zero-interestbearing note. The implied interest is 10%. (a) Prepare Concord's journal entries for the initial transaction, recognition of interest each year assuming use of the effective interest method, and the collection of $66,550 at maturity. (Credit account titles are automatically