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  3. marigold corporation issued a 4-year, $55,000,5% n

Marigold Corporation issued a 4-year, $55,000,5% note to Greenbush Company on January 1,2025, and received...

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Accounting

Marigold Corporation issued a 4-year, $55,000,5% note to Greenbush Company on January 1,2025, and received a computer that
normally sells for $44,762. The note requires annual interest payments each December 31. The market rate of interest for a note of
similar risk is 11%.
Prepare Marigold'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.)
No.
Date
Account Titles and Explanation
Debit
Cred
(a)
(b)
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