use the following .....

Use the following information for this question and the next 4 that follow On January 1, 2017 Pucket Co. issued a $950,000, 4-yr, zero-interest bearing note to Key Bank. The note was issued to yield 4% annual interest. On 12/31/18, Key Bank concluded that Pucket would probably not be able to repay the entire loan and considered the loan to be impaired. Key Bank estimates that Pucket will pay back only $650,000 of the principal at maturity. (Present Value Factors are below). Present value of 1 (Present value of a single sum) n 2% 3% 4% 5% 6% 1 .98039 97087 .96154 95238 .94340 2 .96117 94260 92456 .90703 .89000 3 94732 91514 88900 86384 83962 4 .92385 88949 85480 .82270 79209 5 90573 .86261 .82193 .78353 ,74726 The journal entry for Key Bank at 1/1/17 is