On $3/31/23,$ a Company delivered an equipment costing $$75,000$ to a customer in exchange for a

promissory note of $$100,000$ payable in $4$ years with annual interest payment of $5\%,$ when the

market rate of interest was $7\%.$

Required: Provide all relevant journal entries that the Company should record for the above, in

$2023,$ assuming that the Company uses a perpetual inventory system and has Dec. $31$ year$-$end