3. (12 points) Cold Co. sold Chickpaw Motor Sports a shipment of snowmobiles for a fair value of $37,037. The snowmobiles were delivered on January 1, 2021, and Cold received a note from Chickpaw indicating that Chickpaw will pay Cold $40,000 on December 31, 2021. Unless informed otherwise, assume that Cold views the time value of money component of this arrangement to be significant and that the relevant interest rate is 8%. Record the following entries for Cold: a. January 1, 2021 Debit Account Credit Account Debit Amount Credit Amount b. December 31, 2021 Debit Account Credit Account Debit Amount Credit Amount