View Policies Current Attempt in Progress On October 1, 2020, Indigo Equipment Company sold a pecan-harvesting machine to Valco Brothers Farm, Inc. In lieu of a cash payment Valco Brothers Farm gave Arden a 2-year. $ 115,600,8% note la realistic rate of interest for a note of this typel. The note required interest to be paid annually on October 1. Indigo's financial statements are prepared on a calendar year basis. Assuming Valco Brothers Farm fulfills all the terms of the note, prepare the necessary journal entries for Indigo Equipment Company for the entire term of the note. Assume that reversing entries are not made on January 1, 2021 and January 1, 2022. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation I (To record the collection of interest) (To record the collection of the note)