On September 1, 2020, Kingbird, Inc. sold goods to Ayayai Corp., a new customer. Before shipping the goods, Kingbird's credit and collections department conducted a procedural credit check and determined that Ayayai is a high credit-risk customer. As a result, Kingbird did not provide Ayayai with open credit by recording the sale as an account receivable. Instead, Kingbird required Ayayai to provide a non-interest-bearing promissory note for $32,700 face value, to be repaid in one year. Ayayai has a credit rating that requires it to pay 9% interest on borrowed funds. Kingbird pays 7% interest on a loan recently obtained from its local bank. Kingbird has a December 31 year end. The tables in this problem are to be used as a reference for this problem. Prepare the entries required on Kingbird's books to record the sale, annual adjusting entry, and collection of the note's full face value. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Cret (To record interest income) (To record collection of the note receivable)