PLEASE FILL YELLOW BOXES

Marks Company sold goods to Birch Company totaling $51,830 during 2020 . When Birch was unable to meet Marks' normal terms, Marks accepted from Birch a \$60,000, 3-year non-interest-bearing note due 1/1/24. (Marks has accepted notes in the past in settlement of open accounts.) Required: (a) Prepare Marks' journal entry on 1/1/21 when the note was signed. (b) Prepare a table which shows the amortization of bond discount over the life of the note. (c) What is the 12/31/22 adjusting entry that will be recorded by Marks? (d) What is the purpose of the journal entry at 12/31/22 ? Required A The discount on the notes recievable is the difference between the face value and the the amount of the sale. The dicsount represents the cost of financing the sale over the three period note Required B \begin{tabular}{|r|} \hline Date \\ \hline 2021 \\ \hline 2022 \\ \hline 2023 \\ \hline \end{tabular}