Big Country Corporation is in the business of selling cattle. Due to recent diseases plaguing cattle, Big Country is experiencing a cash shortage. Big Country issued a $280,000, six-year, zero-interest-bearing note to Little Town Corp. on January 1, 2017 and received $200,000 cash. In addition, to conserve cash, Big Country agreed to sell cattle to Little Town for an amount less than the regular selling price over the six-year period. The market interest rate for similar notes is 8%. Big Country uses the effective interest method. Prepare Big Country's January 1 journal entry.