On November 30, 2021, Regina Corporation sold merchandise to Moose Jaw Inc., accepting a 2%, 3-year promissory note of $370,700 in exchange. Interest is payable annually on November 30, starting November 30, 2022. Regina Corporation normally pays 5% interest to borrow funds. However, Moose Jaw Inc. normally pays 6% to borrow funds. The product sold is carried on Regina Corporation's books at a cost of $178,100. Regina Corporation has a year end of November 30 and follows IFRS. Required: 1. Calculate the amount at which the product was sold to Moose Jaw Inc. (2 marks) 2. Prepare an amortization schedule for this note. (2 marks) 3. Prepare the journal entries to record this transaction in the books of Regina Corporation on November 30, 2021. (1.5 marks) 4. Prepare the journal entry required for this note by Regina Corporation in 2022. (1.5 marks)