On July $1,2024,$ a company acquired equipment. The company paid $$165,000$ in cash on July $1,2024,$ and

signed a $$660,000$ noninterest$-$bearing note for the remaining balance, which is due on July $1,2025.$ An

interest rate of $7\%$ reflects the time value of money for this type of loan agreement. $($PV of $$1,$ PVA of $$1)$

Which of the following should be included in the journal entry on July $1,2024?$

Note: Round intermediate and final answer to nearest whole dollar amount.