On January $1,$ Sage Hill inc. sold used equipment with a cost of $$13,200$ and a carrying amount of $$2,200$ to Sheffield Corp. in exchange for a $$4,400,$ three$-$year non$-$interest$-$bearing note receivable. Although no interest was specified the market rate for a loan of that risk would be $8\%$ and assume that Sage Hill follows IFRS. Click here to view the factor table PRESENT VALUE OF $1$ Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF Prepare the entries to record $($a$)$ the sale of Sage Hill inc. equipment and receipt of the note, $($b$)$ the recognition of interest at the end of each year, and $($c$)$ the collection of the note at maturity.

$($Round answers to O decimal places, eg$.125.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter for the amounts$)$