Omega Chemicals Ltd. took a $570,000 two-year note receivable from a customer in connection with a major sale transaction on 1 May 20X7. The note required annual 30 April interest payments of 4%, and the principal was due on 30 April 20X9, Omega has a 31 December year-end. (PV of $1. PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare journal entries to record the initial sale transaction and each payment on the books of Omega, assuming that the market Interest rate is 4%. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round time value factor to 5 decimal places and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet