On January 1, 2025, Oriole Company makes the two following acquisitions. 1. 2. Purchases land having a fair value of $300,000.00 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $528,703. Purchases equipment by issuing a 6%, 9-year promissory note having a maturity value of $340,000.00 (interest payable annually). The company has to pay 12% interest for funds from its bank. Click here to view factor tables. (a) (b) Record the two journal entries that should be recorded by Oriole Company for the two purchases on January 1, 2025. Record the interest at the end of the first year on both notes using the effective-interest method.