On January 1,2024, Wright Transport sold four school buses to the Elmira School District in exchange for the buses, Wright received a note requiring payment of $532,000 by Elmira on December 31,2026 . The effective interest rate is 8% Note: Use appropriate factor(s) from the tables provided. (PV of \$1. EV of S1. FVA of S1. PVA of S1. EVAD of S1 and PVAD of S1) Required: 1. How much sales revenue would Wright recognize on January 1, 2024, for this transaction? 2. Prepare joumal 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 paymerit of the note on December 31,2026. Complete this question by entering your answers in the tabs below. How much males revenue would Wright recognize on January 1,2024 , for this transaction? Note: Round your final answer to noarest whole number. Journal entry worksheet Record the sale of goods on January 1, 2024 in exchange for the long term note. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the accrual of interest in 2025. Note: Enter debits before credits. epare journal entries to record the sale of merchandise on lanuary 1,2024 (omit any e pods sold). the December 31, 2024, interest accrual, the December 31, 2025, interest as ecember 31,2026. ote: If no entry is required for a transaction/event, select "Wo journal entry required" in termediate calculations and round your final answers to nearest whole number. Journal entry worksheet 1 5 Record the accrual of interest in 2026. Wote: Enter debita before credits. Journal entry worksheet Record the collection of the note in 2026. Note: Enter debits before credits