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Pina Corp. was experiencing cash flow problems and was unable to pay its $$92,400$ account payable to Novak Corp. when it fell due on September $30,2023.$ Novak agreed to substitute a one$-$year note for the open account. The following two options were presented to Pina by Novak:

Option $1$: A one$-$year note for $$92,400$ due September $30,2024.$ Interest at a rate of $9\%$ would be payable at maturity.

Option $2$: A one$-$year non$-$interest$-$bearing note for $$100,716.$ The implied rate of interest is $9\%.$

Assume that Novak has a December $31$ year end.

$($a$)$

Assuming Pina chooses Option $1,$ prepare the entries required on Novak's books on September $30,2023,$ December $31,2023,$ and September $30,2024.($Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the