On January 5, 2020, Mrs. Claus acquired a tract of land for $25,000 cash and signed a two-year non-interest-bearing note, payable in two installments of $30,000 each at the end of each of the next two years.The fair value of the land is unknown.The going rate of interest for such transactions is 12%.Prepare the entry to record the land acquisition (use the gross method for the note payable).