7. On January 1, 2022, JB Corporation sold land that originally cost $678,000. JB accepted a long term note from the buyer. The note requires 10 equal payments of $105,000 commencing on December 31, 2022. The interest rate on the note is 8%. a. What is the amount of gain or loss from the sale of the land? b. Prepare the journal entries to record the sale for JB on January 1, 2022 and the entry to recognize interest on December 31, 2022.