that's all the info that was given to me

McCormick Corporation issued a 4-year, $40,000, 5% note to Greenbush Company on January 1, 2014, and received a computer. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 12%. a. Determine the purchase price of the computer (which is also the principal of the loan). [ Select] b. Prepare McCormick's journal entry for the January 1, 2014 issuance of the note Accounts Debit Credit [ Select ] [ Select ] [Select] [ Select] > [Select] [Select]