Can someone please help me firgue this out: On Oct.1 2010, Arden Farm Equipment company sold a harvesting machine to Valco Brothers Farm, Inc. In lieu of a cash payment Valco brothers farm gave Arden a 2 year, $120,000, 8% note. The note required interest to be paid annually on Oct.1 Adren's financial statements are prepared on a calender year basis. Assuming Valco fulfills all the term of the note, prepare the necessary journal entries for Arden for the entire length of the note.

Oct.1, 2010 Notes Receivable	120,000
Sales		120,000
Oct.1, 2011 Interest receivable	2,400
Interest revenue		2,400