On January 1, 2024, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright recelved a note requiring payment of $522,000 by Elmira on December 31,2026 . The effectlve Interest rate is 5%. Note: Use appropriate factor(s) from the tables provided. (FV of \$1, PV of \$1. FVA of \$1, PVA of \$1. FVAD of \$1 and PVAD of \$1) Required: 1. How much sales revenue would Wilght recognize on January 1,2024 , for this transaction? 2 Prepare journal entrles to record the sale of merchandise on January 1, 2024 (omlt any entry that might be required for the cost of the goods sold), the December 31, 2024, Interest accrual, the December 31, 2025, Interest accrual, and recelpt of payment of the note on December 31, 2026. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the sale of merchandise on January 1, 2024 (omit any entry that might be required for the cost of the goods sold), the December 31,2024, interest accrual, the December 31, 2025, interest accrual, and receipt of payment of the note on December 31, 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to nearest whole number. Journal entry worksheet (1) 2 Record the accrual of interest in 2026. Note: Enter debits before credits. Journal entry worksheet Record the collection of the note in 2026 . Note: Enter debits before credits