On 12-31-18, A sold some inventory to B. A accepted from B a $1,500,000, 10% note receivable. A will collect interest on the note every 12-31 starting 12-31-19. A will collect the note principle in full on 12-31-21. Under normal circumstances, A earns 11% on its funds. The cost of the inventory sold was $340,000.

Prepare the entries A should make on 12-31-18, 12-31-19, 12-31-20 and 12-31-21.