Current Attempt in Progress On July 1, 2024, Pronghorn Limited received an 18-month loan for $426,000 from a bank at 6% and with these funds and another $103,000 cash, purchased land for $529,000. Prepare the journal entries to record each of the following on Pronghorn's books: The purchase of the land on July 1, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 1 , 2024 Debit Income Tax Payable Bank Loan Payable Credit Credit