Pina Corporation issued a 4-year, $46,000, 5% note to Greenbush Company on January 1, 2017, and received a computer that normally sells for $32,867. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 15%.

Prepare Pina's journal entries for (a) the January 1 issuance and (b) the December 31 interest Round answer indented when amount is entered. Do not indent manually.) INko (a) January 1, 2017 DateAccount Titles and Explanation Debit Credit (b) December 31, 2017