Sunland Corporation issued a $4-$year, $$74,000,$ zero$-$interest$-$bearing note to Brown Company on January $1,2025,$ and received cash of $$42,310.$ The implicit interest rate is $15\%.$

Prepare Sunland's journal entries for $($a$)$ the January $1$ issuance and $($b$)$ the December $31$ recognition of interest. $($Round answers to $0$ decimal places, e$.$s$.38,548.$ 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

No$.$

$($a$)$

$($b$)$

Date

Account Titles and Explanation

Debit