Attempt in Progress On July 1, 2025, Crane Inc. made two sales. 1. It sold land having a fair value of $915,580 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,440,678. The land is carried on Crane's books at a cost of $598,400. 2. It rendered services in exchange for a 3%, 8-year promissory note having a face value of $406,500 (interest payable annually). Crane 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 Crane Inc. for the sales transactions above that took place on July 1, 2025. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Question 1 of 4 < No. Date Account Titles and Explanation Debit 1. July 1, 2025 2. July 1, 2025 -/25 Credit