Seller sells Buyer a piece of land with original cost of $12,000 for an $18,000, non-interest-bearing note due in 4 years. The fair market value of the land is $16,000. Prepare the entry for the sale and the amortization of the discount (straight-line method).

Please do not copy from Chegg otherwise I have to report the answer. Explain the answer thoroughly by showing each step of the calculation.