On July 1, 2020, Moncton Incorporated sold widgets to Fredericton Limited. Moncton Incorporated has a December 31 year-end. As part of the sale, Moncton Incorporated stated that Fredericton Limited must give Moncton a non-interest bearing note for $200,000 face value. The note is to be repaid in one year, at the end of the year. While Fredericton Limited must pay 10% interest on any funds it borrows, Moncton Incorporated only pays 8% interest. Required Prepare the required journal entries in good form to record the sale, year-end adjusting entry, and collection of the note.