Abbot Corp. issued a $270,000, three-year, zero-interest-bearing note payable to Athabasca Corp. for equipment on April 30, 2020. Abbot would normally pay interest at 6%. Abbot has a December 31 year-end and will repay the note with three equal yearly payments of $90,000. Abbot Corporation follows IFRS. Instructions Prepare the following journal entries for Abbot Corporation:

Record the note December 31, 2020 interest accrual April 30, 2021 payment December 31, 2021 interest accrual April 30, 2022 payment As described in the Course Guide, use a Word table and correct journal entry format for all your journal entries. Round journal entry amounts to the nearest dollar. Round interest to the nearest full month.