On January 1, 2025, Shetland Company loans $252,510 to Durham Corporation in exchange for a $300,000 zero-interest-bearing note payable in 2 years. The market rate of interest for a transaction of this nature for Durham is 9%. The present value of 1, 2 years out at 9% is 0.8417. Shetland Company has a calendar year-end and it uses the effective-interest method. Prepare journal entries on 1/1/25 to recognize the loan for Shetland Company

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