Question 17 of 18 - / 0.5 Current Attempt in Progress On December 31, 2020, Whispering Company borrowed $68,301 from Paris Bank, signing a 5-year, $110,000 zero-interest-rate note. The note was issued to yield 10% interest. Unfortunately, during 2022, Whispering began to experience financial difficulty. As a result, at December 31, 2022, Paris Bank determined that it was probable that it would collect only $82,500 at maturity. The market rate of interest on loans of this nature is now 11%. Click here to view factor tables (a) Prepare the entry (if any) to record the impairment of the loan on December 31, 2022, by Paris Bank. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to O decimal places e.g. 58,971. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 1 used Submit