Billy's Balloon Factory (BBF) enters into a sales contract with a new customer involving a significant financing component. Delivery occurs at the date of the contract inception. However, payment of the contract price of $500,000 will not occur until three years later. The interest rate charged in similar arrangements in the industry is 7%. What amount should BBF record as the sale in the journal?

What are the first, second and third year interest? I already know what the total interest is but unable to find the correct answers for the individual years.