On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright recelved a note requiring payment of $526,000 by Emira on December 31,2023 . The effective interest rate is 7%. #V of $1. PV of $1. FVA of $1. PVA of S1. EVAD of \$1 and PVAD of \$1) (Use appropriate foctor(s) from the tables provided.) Required: 1. How much sales revenue would Wright recognize on January 1, 2021, for this transaction? 2. Prepare Journal entnes to record the sale of merchandise on January 1.2021 (omit any entry that might be required for the cost of the goods sold, the December 31, 2021, interest accrual, the December 31, 2022, interest accrual, and receipt of payment of the note on December 31,2023. Complete this question by entering your answers in the tabs below. How much sales revenue would Whight recegnize on lanuary 1. 2021, for this transaction? (Round your final answer to nearest whate number