On July 1, 2014 a company that sells equipment and land as part of its business entered into the following transactions: 1. Sold land having a fair value of $300,000 by receiving a 5 year zero interest bearing promissory note in the face amount of $505,518. Assume the market rate is 11%. FOR BOTH THE LENDER & THE BORROWER : a. Record the journal entry on July 1, 2014. b. Prepare the effective interest chart. c. Record the journal entry to be recorded at each July 1. d. Record the journal entry for receipt of the final payment of the