Sheffield Corporation issued a 4-year, $81,000, zero-interest-bearing note to Brown Company on January 1, 2020, and received cash of $46,312. The implicit interest rate is 15%. Prepare Sheffields journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest. (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 manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
(a)	Jan. 1, 2020Dec. 31, 2020	enter an account title to record the issuance of the note on January 1, 2017	enter a debit amount	enter a credit amount
		enter an account title to record the issuance of the note on January 1, 2017	enter a debit amount	enter a credit amount
		enter an account title to record the issuance of the note on January 1, 2017	enter a debit amount	enter a credit amount
(b)	Jan. 1, 2020Dec. 31, 2020	enter an account title to record the recognition of interest on December 31, 2017	enter a debit amount	enter a credit amount
		enter an account title to record the recognition of interest on December 31, 2017	enter a debit amount	enter a credit amount

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