on january 1,2018 ,Happy tubs sold a hot tub to Monica receiving a two year noninterest bearing note in exchange for a hot tub that normaly sells for $80,000. The note is for amount that achieves an effective interest rate of 10% per year.

a- Prepare the journal entry to record the sale

b- Prepare any adjustmenting entry neccessary on December 31,2018

c- Prepare any adjustmenting entry neccessary on December 31,2019