Recording Entries for Interest-Bearing Note Payable Fern Company purchased goods on January 1, 2020, and issued a two-year, $2,500 note with a 5% stated rate. The fair value of the goods is $2,366. The note requires annual interest payments on December 31. The market rate of interest appropriate for this note is 8%. Provide journal entries to be made at each of the following dates. a. January 1, 2020, for issuance of the note. b. December 31, 2020, for the interest payment. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Account Name Dr. Cr. . Date a. Jan. 1, 2020 o o o o o o o o o o o o b. Dec. 31, 2020