On January 1, 2021, Happy Tubs sold a hot tub to Monica, receiving a two-year, noninterest-bearing note in exchange for a hot tub that normally sells for $8,000. The note is for an amount that achieves an effective interest rate of 10% per year, and Happy Tubs views the financing component of this transaction to be significant. Required: 1. Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)