Skysong Corporation issued a 5-year, $70,000, zero-interest-bearing note to Garcia Company on January 1, 2017, and received cash of $70,000. In addition, Skysong agreed to sell merchandise to Garcia at an amount less than regular selling price over the 5-year period. The market rate of interest for similar notes is 15%. Prepare Skysong Corporation's January 1 journal entry. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to o decimal places,e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit Date January 1, 2017 |Cash 70,000 3479 Discount on Notes Payable Notes Payable 70,000 34802 Unearned Revenue Click if you would like to Show Work for this question: Open Show Work