Annette Corp. issued a $330,000, three-year, zero-interest-bearing note payable to Agnes Corp. for equipment on April 30, Year 5. Annette would normally pay interest at 6%. Annette has a December 31 year-end and will repay the note with three equal yearly payments of $110,000. Annette Corporation follows IFRS. Instructions Prepare the following journal entries for Annette Corporation: (show all your work)

1. Record the note

2. December 31, Year 5 interest accrual

3. April 30, Year 6 payment

4. December 31, Year 6 interest accrual

5. April 30, Year 7 payment