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P14.5 (L02) (Entries for Zero-Interest-Bearing Note) On December 31, 2019. Faital computer from Plato Group by issuing a 600,000 zero-interest-bearing note, payable in full on

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P14.5 (L02) (Entries for Zero-Interest-Bearing Note) On December 31, 2019. Faital computer from Plato Group by issuing a 600,000 zero-interest-bearing note, payable in full on 31, 2023. Faital's credit rating permits it to borrow funds from its several lines of credit at 10% computer is expected to have a 5-year life and a 70,000 residual value. Instructions a. Prepare the journal entry for the purchase on December 31, 2019. b. Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization on December 31, 2020. c. Prepare any necessary adjusting entries relative to depreciation and amortization on December 31. 2021

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