That payment of the note on 1.1.20 (remember Beamer got a tractor not cash), the accrual of interest on 12.31.18 and 12.31.19, and the current value of the tractor is $232,000. Prepare the entry for Beamer to record the note, and instead Tipsy accepted a $250,000 zero-interest-bearing note due on Jan 1, 2020. The Tipsy Corp. sold a tractor to Beamer Corp on Jan 1, 2018. Beamer could not pay for the tractor.