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.

Prepare the following journal entries for Abbot Corporation:

1. Record the note
2. December 31, 2020 interest accrual
3. April 30, 2021 payment
4. December 31, 2021 interest accrual
5. April 30, 2022 payment