Dec-31 It sold a land having a fair value of $300,000 in exchange for a 3-year zero-interest- bearing promissory note in the face amount of $399,297. The land is carried on Pinakis book at a cost of $175,000. (Note: Pinaki recently had to pay 5% interest for money that it borrowed from National Bank. The customer in this transaction has credit rating that requires him to borrow money at 10% interest.) Instructions Prepare all necessary entries in general journal and show all the necessary calculations for Pinaki Corp.