On January 1, 2023, Blue Corporation sold land that originally cost $300,000. Blue accepts a $978,000 zero-interest bearing note from the buyer. The note is due on December 31,2037 . The buyer normally borrows funds of this type at 7% interest. Required: a. Is the note in this case considered short term or long term? b. Prepare the entry for Blue Co. for the sale of the land on January 1, 2023