On July 1, 2014, Agincourt Inc. made two sales. 1. It sold land having a fair value of $918,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,344,051. The land is carried on Agincourts books at a cost of $597,000. 2. It rendered services in exchange for a 5%, 8-year promissory note having a face value of $401,000 (interest payable annually). Agincourt Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 10% interest. Record the two journal entries that should be recorded by Agincourt Inc. for the sales transactions above that took place on July 1, 2014. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)