fill in ALL of the blank journal entries please

On January 1,2025, Cullumber Compary makes the two following acquisitions. 1. Purchases land having a fair value of $360,000,00 by issuing a 5 -year, zero-interest-bearing promissory note in the face amount of $606,620,88. 2. Purchases equipment by issuing a 7%,8-year promissory note having a maturity value of $560,000,00 (interest payable annually). The company has to pay 11% interest for funds from its bank. Cilck here to view factor tabies (a) Record the two journal entries that should be recorded by Cullumber Company for the two purchases on January 1,2025. (b) Record the interest at the end of the first year on both notes using the effective-interest method. (Round present value foctor calculations to 5 decimal ploces, es. 1.25124 and the final answer to 2 decimal ploces, es. 58,971.25. If no entry is required, select "No Entry' for the occount titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manualiy. List all debit entries before credit entries.) Notes Parable: 60662088 43025 Exulprinent Divcount on Notes Payable Notes Parable 500000 31.2025