Recording and Reporting Transactions with Short- Term, Interest-Bearing Note Receivable On May 1, Swimm Company sold merchandise to Lochte and received a $52,800 (face amount), one-year, non-interest-bearing note. The market rate is 10%. Lochte paid the note in full on its maturity date. - Note: Round answers to the following questions to the nearest whole dollar. a. Prepare entries for Swimm Company on May 1 and December 31 (year-end adjustment). Amortize the discount on the note receivable using the straight-line method. b. Identify which accounts and amounts should be presented on the annual income statement and year-end balance sheet (ignoring cash). c. Record the entry on April 30 of the following year to (1) amortize the discount on the note and (2) to record the receipt of payment on the