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On January 1 , 2 0 2 0 , JenStar sold inventory costing $ 8 5 , 0 0 0 to EastCo. In return, JenStar

On January 1,2020, JenStar sold inventory costing $85,000 to EastCo. In return, JenStar received a 4-year, 7% note with a face value of $125,000. Blended payments will be made yearly on December 31, and will include principal and interest. The market rate of interest is 11%. JenStar has a December 31 year-end while EastCo's year-end is September 30. JenStar uses a perpetual inventory system.
Please make sure your final answer(s) are accurate to the nearest whole number.

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