Hi, please help with the red circle one! The answer is not CASH nor Notes Payable! I got really confused of this title...Please do not provide the same wrong answer as I listed here. Thanks!

Exercise 14-16 Your answer is partially correct. Try again. On January 1, 2017, Bramble Company makes the two following acquisitions I. Purchases land having a fair value of $250,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $421,265. 2. Purchases equipment by issuing a 7%, 9-year promissory note having a maturity value of $420,000 (interest payable annually on January 1) The company has to pay 11% interest for funds from its bank. (a) Record the two journal entries that should be recorded by Bramble Company for the two purchases on January 1, 2017. (b) Record the interest at the end of the first year on both notes using the effective-interest method. Round present value factor calculations to 5 decimal places, eg. 1.251 24 and the final answer to O dec nal places e 9-58 971 1 no entry s required se ec titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Entry"? ruhe account