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On January 1, Larkspur, Inc. sold used equipment with a cost of $14,000 and a carrying amount of $2,300 to Blue Spruce Corp. in exchange for a $5,300, three-year non-interest-bearing note receivable. Although no interest was specified, the market rate for a loan of that risk would be 9%. Assume that Larkspur follows IFRS Your answer is partially correct. Try again. Prepare the entry to record the sale of Larkspur's equipment and receipt of the note. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Notes Receivable 13415.89 No Entry Accounts Receivable 13415.89 No Entry Your answer is partially correct. Try again Prepare the entries to record the recognition of interest each year. (Round answers to 0 decimal places, e. g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Credit Debit Interest Income (To record interest income in the first year) Interest Income (To record interest income in the second year) Interest Income (To record interest income in the third year) Your answer is partially correct. Try again Prepare the entry to record the collection of the note at maturity. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Activate Windows Go to Settings to activate Windows. Account Titles and Explanation Debit Credit Cash INotes Receivable

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