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

12/31/2019 Sold Equipment that has an 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 12/31/19. The stated rate of interest for the note is 6%.

Record the original transaction, for the seller.
Record the transactions through 12/31/22

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