Determine at what amount the land should be recorded at January 1,2025, and the interest expense to be reported in 2025 related to this transaction. (Round intermedlate calculation to 5 declmal places, es. 0.23451 and finol answers to 0 declmal places, es. 38,548.) Land to be recorded at January 1, 2025 Interest expense to be reported (b) On January 1, 2025, Sweet Furniture borrowed $4,300,000 (face value) from Sinise Co., a major customer, through a zero-interest bearing note due in 4 years. Because the note was zero-interest-bearing, 5 weet Furniture agreed to sell furniture to this customer at lower than market price. A 10% rate of interest is normally charged on this type of loan. Prepare the journal entry to record this transaction. (Round intermedlate calculation to 5 decimal ploces, eg 0.23451 answers to 0 decimal places, eg. 38,548. If no entry Is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automaticalfy indented when the omount is entered. Do not indent manualfy. List all debit entries before credit entries.) Determine the amount of interest expense to report for 2025, (Round onswer to 0 decimal places, e.8. 38,548.) (a) On Jancary 1,2025, Indigo inc, purchased land that had an assessed value of $347,000 at the time of purchase, A 5558,000,2er0 interest-bearing note doe lanuary 1,2028, was fyen in exchange. There was no established onchange prich for the land, nor a reacty fali value for the note. The interest ratecharged on a note of this type is 12% Determine at what amount the land should be recorded at January 1.2025, and the interest expense to be reported in 2025 related to this transaction. (Round intermedlate calculation to 5 decimal ploces, es. 0.23451 and final answers to O decimal pisces, es. 38, 548.) (b) On January 1,2025, Sweet Furniture borrowed $4,300,000 (face value) from Sinise Co, a major customer, through a zeco-interestbearing note due in 4 years. Because the note was zero-interest bearing. Sweet Furniture agreed to sell furniture to this customer at lower than market price. A tos rate of fnterest is normally charged on this type of loan. Prepare the jocornal entry to record this transaction. (Round hatermedlate calculation to 5 decimal placex, eg 0.23451 onmwers to 0 declmal ploces, es. 38,548. If no entry is required, select "No Entry" for the account tities and enter Ofor the amounts. Creditt account titles are autamaticaly indented when the amount is entered Do not indent manually List all debit entries before credit entries) Determine the amount of Interest expense to report for 2025. (Round answer to odecimal places, e.8. 38.548.) Interest experise to be reported for 2025