On July 1, 2022, Marin plc made two sales. 1. It sold land having a fair value of 913,050 in exchange for a 4-year, zero-interest-bearing promissory note in the face amount of 1,436,698. The land is carried on Marin's books at a cost of 592,800. 2. It rendered services in exchange for a 3%,8-year promissory note having a face value of 407,700 (interest payable annually). Marin 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 12% interest. Record the two journal entries that should be recorded by Marin plc for the sales transactions above that took place on July 1, 2022. (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.) No. Date Account Titles and Explanation Debit Credit 1. July 1 , 2022 2. July 1 , 2022