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CES On December 31, 2017, Headland Company acquired a computer from Plato Corporation by issuing a $576,000 zero-interest-bearing note, payable in full on December 31, 2021. Headland Company's credit rating permits it to borrow funds from its several Ines of credit at 12 %. The computer is expected to have a 5-year ife and a $77,000 salvage value. Problem 14-81 Prepare the joumal entry for the purchase on December 31, 2017. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 declmal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. De not indent manually.) Account Titles and Explanation Debit Credit Date December 31, 2017 Equipment Discount on Notes Payable Notes Payable SHOW LIST OF ACCOUNTS Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2018. (Round answers to 0 declmal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically Indented when amount is entered. Do not Indent manally.) Credit Debit Account Titles and Explanation Date December 31, 2018 Depreciation Expense Accumulated Depreciation-Equipment (To record the depreciation.) December 31, 2018 Interest Expense Discount on Notes Payable (To amortize the discount.) Schedule of Note Discount Amortization Debit, Interest Expense Credit, Carrying Amount Discount on Notes Payable of Note Date 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 Prepare any necessary adjusting entries relative to deprediation and amortization on December 31, 2019. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manualy.) Account Titles and Explanation Debit Credit Date December 31, 2019 (To record the depreciation.) December 31, 2019 (To amortize the discount.) Click if you would like to Show Work for this question: Open Show Work