On December 31, 2008, Beckham Corporation sold for $10,000 an old machine having an original cost of $50,000 and a book value of $6,000. The terms of the sale were as follows: $2,000 down payment, $4,000 payable on December 31 of the next two years. The sales agreement made no mention of interest; however, 10% would be a fair rate for this type of transaction. Give the journal entries on Beckham’s books to record the sale of the machine and receipt of the two subsequent payments.