Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on January 1, 2020. The note agreement will require 6 payments of $10,000 each beginning June 30, 2020. Kenworthy will charge Alden Trucking Company the market interest rate of 10% compounded semi-annually.

Ignore depreciation, answer the following questions related to Alden's purchase of the trucks. Round all your calculations to the whole dollar.

Record the journal for Alden Trucking Company on 1/1/2020 and 12/31/2020.