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On January 1, 2019, Bookshelf Company issued a $1,200,000. 6-year, zero interest-bearing note to Comerica Bank. The note was issued to yield 8% annual interest. Unfortunately, during 2020 Bookshelf fell into financial trouble due to increased competition. After reviewing all available evidence on December 31, 2020, Comerica Bank decided that the loan was impaired. Bookshelf will probably pay back only $750,000 of the principal due at maturity, 1. Prepare Comerica Bank's journal entry for the initial transaction. Round to the nearest dollar. 2. Compute the impairment loss Comerica Bank will suffer