journal entries of both the companies ?

use the present value table

2. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%