Waterway Corporation borrowed $$58,500$ on November $1,2020,$ by signing a $$60,000,3-$month, zero$-$interest$-$bearing note. Prepare Waterway's November $1,2020,$ entry; the December $31,2020,$ annual adjusting entry; and the February $1,2021,$ entry. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record interest$)$