Swifty Corporation issued a 4-year, $40,000, zero-interest-bearing note to Garcia Company on January 1, 2020, and received canor Swifty agreed to sell merchandise to Garcia at an amount less than regular selling price over the 4-year period. The market rate of interest for similar notes is 11% Prepare Swifty Corporation's January 1 journal entry. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, eg. 38,548. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation January 1, 2020 Tolontar Attempts: 0 of 10 used Submit Answer Save for Later