The existing theater equipment which was purchased on February 1, 2001 for $12,160 With accumulated depreciation record it for $2019 Plus I'm mad acquired on May 1, 2002 with the With the purchase of the Quenns building for 28,000. This equipment was sold on July 1, 2002. A note receivable was excepted in exchange for the old theater equipment.

Maturity valley of a note is 38,000

Turn both notes as three years, stated animal interest rate is 2%, I don't want interest rate consider appropriate in circumstances is 6%.

How can I record sale of this theater equipment?

How can I record accrued interest revenue for this note?