On January 1, 2020, West Co. exchanged equipment for an $800,000 zero-interest-bearing note due on January 1, 2023. The prevailing rate of interest for a note of this type at January 1, 2020 was 10%. The present value of $1 at 10% for three periods is 0.75 a) On January 1, 2020 what is West's journal entry to record the sale? b) At December 31, 2020, what is West's journal entry to record interest