Question: Sorter Enterprises, a major real estate developer, recently accepted a $ 18, 000,000 five-year, 4 % note receivable in exchange for products sold. Interest is

Sorter Enterprises, a major real estate developer, recently accepted a $ 18, 000,000 five-year, 4 % note receivable in exchange for products sold. Interest is paid annually. The current market rate of interest is 5 % bThe note is not publicly traded.

Prepare the journal entry to record the sale. Ignore cost of goods sold

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