EXTENDED PAYMENT TERMS

4 journal entries

1/1/2020	Slaughter & Son sold a Deluxe Funeral Package to a customer (who had not been feeling well
	lately) in exchange for a zero interest bearing note with a face value of $10,000 with
	payment due in 12 months.
	Fair value of the funeral package at the date of sale			8,500
	Cost of funeral package			5,000
Prepare the journal entries for Slaughter and Sons for 2020 and 2021.
Date	Account Title			Debit	Credit