On November 1, 2021, Headlands Farm Equipment sold a harvesting machine to Stead Industries. Instead of a cash payment, Stead Industries gave Headlands Farm Equipment a $91,000, two-year, 6.0% note. The note required interest to be paid quarterly starting February 1, 2022. Headlands Farm Equipments financial statements are prepared on a calendar-year basis. The following instructions refer only to this note receivable.

(a)

Prepare journal entries for Headlands Farm Equipment for the full term of the note. Include the sale of the equipment on Nov. 1, 2021, receipt of interest, adjusting entries required on December 31, 2021 and 2022, and the collection of the note on November 1, 2023. Ignore Cost of Goods Sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit

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List of Accounts

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(b)

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(c)

The parts of this question must be completed in order. This part will be available when you complete the part above.