On January 1, Windsor, Inc. sold used equipment with a cost of $17,000 and a carrying amount of $2,300 to Swifty Corporation in exchange for a $5,100, three-year non-interest-bearing note receivable. Although no interest was specified, the market rate for a loan of that risk would be 7%. Assume that Windsor 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 1. (a) Prepare the entry to record the sale of Windsor's equipment and receipt of the note. (Round answers to decimal places, e.g. 5,275. 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.) Debit Credit Account Titles and Explanation Notes Receivable Accumulated Depreciation - Equipment Equipment 1700 Gain on Disposal of Equipment