Sunland Corporation purchased a computer on December $31,2024,$ for $$132,300,$ paylng $$37,800$ down and agreeing to pay the balance in five equal installments of $$18,900$ payable each December $31$ beginning in $2025.$ An assumed interest rate of $9\%$ is implicit in the purchase price.

$($a$)$

Your answer is correct

Prepare the Journal entry at the date of purchase. $($Round factor values to $5$ decimal places, eg$.1\mathrm{.}25124$ and final answers to $2$ decimal places, es$.52\mathrm{.}75.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit$],[$Dec $31,2024,$Equipment,,$],[$Discount on Notes Payable,$2098559,],[$Notes Payable,,$],[$Cash$,,]]$

eTextbook and Media

List of Accounts

Attempts: $2$ of $5$ used

$($b$)$

Your answer is correct

Prepare the journal entry at December $31,2025,$ to record the payment and interest $($effective$-$interest method employed$)($Round answers to $2$ decimal places, eg$.5275.$ Credit account titles are automatically indented when amount is entered. Do not indent manuaily. If no entry is required, select $"$No Entry" for the account titles and enter Ofor the amounts, List all debit entries before credit entries.$)$

$\backslash$table$[[$Date$,$Account Titles and Explan$$tion$,$Debit,Credit$],[$Dec $31,2025,$Interest Expense,,$],[$Notes Payable,,$],[$Discount on Notes Payable,,$66163],[$Cash$,,]]$

eTextbook and Media

List of Accounts

Attempts: $1$ of $5$ used

$($c$)$

Prepare the journal entry at December $31,2026,$ to record the payment and interest $($effective$-$interest method employed$)($Round answers to $2$ decimal places, eg$.52\mathrm{.}75.$ Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

$\backslash$table$[[$Date Account Titles and Explanation$],[$Dec $31,2026],[q,$