Prepare the journal entry to record each transaction.

a. On January 1,2025 , Fishbone Corporation sold a building that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a $240,000 non-interest-bearing note due on January 1, 2028. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1,2025 , was 9%. At what amount should the gain from the sale of the building be reported