On July $1,2023,$ Windsor Inc. made two sales:

$1.$ It sold excess land in exchange for a four$-$year, non$-$interest$-$bearing promissory note in the face amount of $$1,079,350.$ The land's carrying value is $$620,000.$

$2.$ It rendered services in exchange for an eight$-$year promissory note having a face value of $$450,000.$ Interest at a rate of $2\%$ is payable annually.

The customers in the above transactions have credit ratings that require them to borrow money at $11\%$ interest.

Windsor recently had to pay $6\%$ interest for money it borrowed from British Bank.

$3.$

On July $1,2023,$ Windsor also agreed to accept an installment note from one of its customers in partial settlement of accounts receivable that were overdue. The note calls for four equal payments of $$20,800,$ including the principal and interest due, on the anniversary of the note. The implied interest rate on this note is $8\%.$

The tables in this problem are to be used as a reference for this problem.

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

Prepare the journal entries to record the three notes receivable transactions of Windsor on July $1,2023.($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round answers to O decimal places, e$.$g$.58,971.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$ Prepare an amortization schedule for the instalment note receivable obtained in partial collection of accounts receivable.