Ivanhoe inc provided several entertainment services to bridgeport corporation in the past. On January 1, 2023 when the receivable for the past service was due, Bridgeport was unable to pay the outstanding balance. Ivanhoe agreed to accept a $330000 non interest bearing note payable on december 31 2024. Bridgeport typically could arrange this kind of financing at an interest rate of 15%. Prepare the journal entry to record this transaction for ivanhoe inc on jan 1, 2023