On June 30, 2020, the Red Corporation purchased a piece of equipment from a Manufacturing Company. The company is allowing Red to pay $164,000 on June 30, 2024. Red accepted these terms. The piece of equipment could have been purchased on June 30, 2020 for a cash price of $140,000. Required a) Assuming that the manufacturing company is a publicly accountable entity, write the journal entries for the sale of the piece of equipment at June 30, 3020 and at the manufacturing company's year-ends of December 31, 2020 and December 31, 2021. (4 marks) b) Repeat part (a) on the assumption that the manufacturing company is a private company subject to ASPE. (2 marks)