0n 12/31/2019, Sold Equipment that has a cost of $475,000; and accumulated depreciation of $225,000 The...

0n 12/31/2019, Sold Equipment that has a cost of $475,000; and accumulated depreciation of $225,000 The company received in exchange a Note which requires 6 annual payments of $50,000 The first payment occurs on 12/31/20. The stated rate of interest for the note is 6%. Required: A. Record the original transaction, for the seller. Record transaction through 12/31/22 B. Record the original transaction, for the purchaser. Record transaction through 12/31/22

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