On July 1, 2020, 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 $540,000 It rendered services in exchange for an eight-year promissory note having a face value of $460,000. Interest at a rate of 3% is payable annually. 2. 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. On July 1, 2020, Windsor also agreed to accept an instalment note from one of its customers in partial settlement of accounts receivable that were overdue. The note calls for four equal payments of $21,700, including the principal and interest due, on the anniversary of the note. The implied interest rate on this note is 8%. 3. Prepare the journal entries to record the three notes receivable transactions of Windsor Inc. on July 1, 2020. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answers to decimal places, eg. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit No. Account Titles and Explanation Notes Receivable 1 1,079,350 Land 540,000 Gain on Disposal of Land 539,350 2 Notes Receivable 363.128 Service Revenue 363,128 3. Notes Receivable Accounts Receivable Prepare an instalment note receivable schedule for the instalment note obtained in partial collection of accounts receivable. (Round answers to decimal places, eg. 58,971.) Cash Collected Interest Revenue Principal Collected Note Carryin Amount Date July 1 2020 $ July 1 2021 July 1 2022 July 1 2023 July 1 2024