Recording Noninterest- Bearing Note Payable Entries Choice Company buys equipment on October 1, providing as payment a noninterest-bearing note for $16,000 to be paid one year from today. The equipment could be purchased for $14,546 in cash today. Record the entries for Choice Company on the following dates. a. Issuance of the note for the equipment on October 1. b. Adjusting entry on December 31, the company's year-end. Amortize any discount on the note using the straight-line method. c. Payment of the note payable on October 1 of the following year. - Note: Round your answers to the nearest whole dollar