prepare the journal entry to record the transaction of December 31, 2017, for ivanhoe co

On December 31, 2017, Ivanhoe Co. sold equipment to Metlock, Inc Ivanhoe go agreed to accepta $ 500,000 zero-interest bearing note due December 31, 2019, as payment in full, Metlock, Inc incorporated in 2017 and had very little credit history at the time of the transaction with Ivanhoe. Therefore, at that time, Metlock typically borrowed funds at a rate of 12% Ivanhoe has a long and positive credit history. Therefore, Ivanhoe has various lines of credit at 5%