1. It sold land having a fair value of $909,120 in exchange for a 3-year zero-interest-bearing promissory note in the face amount of $1,277,249 The land is carried on Stellar's books at a cost of $597,100 2. It rendered services in exchange for a 396, 6-year promissory note having a face value of $401,050 (interest payable annually) Stellar Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest. Record the two journal entries that should be recorded by Stellar Inc. for the sales transactions above that took place on July 1, 2017. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No Date Account Titles and Explanation Debit Credit 1. July 1, 2017 Notes Receivable 1277249 Discount on Notes Receivable 368128 Land 597100 Gain on Disposal of Land 312021 2. July 1, 2017 Notes Receivable 401050 Discount on Notes Receivable 132689 Service Revenue 268361