On July 1, 2025, Metlock Inc. made two sales. 1. 2. It sold land having a fair value of $910,080 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,432,024. The land is carried on Metlock's books at a cost of $591,300. It rendered services in exchange for a 3%, 8-year promissory note having a face value of $402,980 (interest payable annually). Metlock 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 12% interest. Record the two journal entries that should be recorded by Metlock Inc. for the sales transactions above that took place on July 1, 2025. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O 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. List all debit entries before credit entries.) D. Date Account Titles and Explanation July 1, Notes Receivable 2025 Discount on Notes Receivable Land Gain on Disposal of Land July 1, Notes Receivable 2025 Discount on Notes Receivable Service Revenue Debit 1432024 402980 Credit 521972 591300 318752 180164 222816