On July 1, 2020, Westwood Inc. made the following sale:

1. It rendered services in exchange for a 3\%, 8-year promissory note having a face value of $404,520 (interest payable annually). The customer has a credit rating that requires them to borrow money at 12%. The journal entry to record the note on Babalon's book would require: A debit to Notes Receivable for $ ; a credit to Service Revenue for $ and a credit to Discount on Notes Receivabl for: $