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Aerobic Sports Company completed the following 2020 transactions related to a note receivable. Prepare the journal entries, including any interest earned, that Aerobic Sports Company

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Aerobic Sports Company completed the following 2020 transactions related to a note receivable. Prepare the journal entries, including any interest earned, that Aerobic Sports Company should make on February 1, 2020, and March 1, 2020. Note: Round your answers to the nearest whole dollar. a. February 1, 2020-Received a $560,000, 8%, interest-bearing, six-month note from Temple Company for land that had a carrying value of $168,000 Date Account Name Dr Cr. Feb. 1, 2020 0 0 0 168,000 Land 0 b. March 1, 2020-Discounted the note to Local Bank at a 10% interest rate. Assume the discounting qualifies as a sale. Date Account Name Dr. Cr. 3,733 March 1, 2020 Interest Receivable 0 Interest Revenue 3,733 To record interest on note March 1, 2020 Cash 0 C Loss on Sale of Note 0 0 Interest Receivable 0 60 Note Receivable 0 560,000 To record discounting of note Please answer all parts of the

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