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  3. coronado corporation issued a 4-year, $34,000,4% n

Coronado Corporation issued a 4-year, $34,000,4% note to Greenbush Company on January 1, 2025, and...

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Accounting

image Coronado Corporation issued a 4-year, $34,000,4% note to Greenbush Company on January 1, 2025, and received a computer that normally sells for $27,533. The note requires annual interest payments each December 31 . The market rate of interest for a note of similar risk is 10%. Prepare Coronado's journal entries for (a) the January 1 issuance and (b) the December 31 interest. (Round answers to 0 decimal places, e.g. 38,548. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.)

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