On January 1,2025 , Shetland Compary loans $252,510 to Durham Corporation in exchange for a $300,000 zero-interest-bearing note payable in 2 years. The market rate of interest for a transaction of this nature for Durham is 9%. The present value of 1,2 years out at 9% is 0,8417 . Shetland Company has a calendar year-end and it uses the effective-interest method. (a) Prepare journal entries on 1/1/25 to recognize the loan for Shetland Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry) Prepare joumal entries on 1/1/25 to recognize the loan for Shetland Company. (Credit occount titles are outomatically indented when the amount is entered, Do not indent manually, List debit entry before credit entry) D 1) Attempts: 0 of 1 used Prepare the journal entry to recognize interest on 12/31/25 for Shetland Company. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. (ist debit entry before credit entry. Round answers to 0 decimal ploces, es. 5.275 .) Prepare the journal entry to recognize interest on 12/31/26 for Shetland Company. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually, List debit entry before credit entry.) Prepare the journal entry to recognize receipt of payment of the note on 1/1/27 for Shetland Company. (Credit account titles are outomatically indented when the amount is entered. Do not indent manully, List debit entry before credit entry) Attempts: 0 of 1 used