Red, Inc. bought land in 2015 for $8,650,000. In 2025, Yellow bought the land from Red on March 1, signing a zero- interest bearing note for $12,680,000. The note will be paid in 4 equal payments starting on March 1, 2025. The note has no ready market and the prevailing rate of interest for this type of note is 8%. The face value of the note is $10,220,000. Using the effective interest method, what amounts would be recorded on March 1, 2025? Indicate Debit or Credit Amount Notes Payable Interest Expense Discount on Note Payable Land Using the effective interest method, what amounts would be recorded on December 31, 2025? Indicate Debit or Credit Amount Notes Payable Interest Expense Interest Payable Discount on Note Payble II Cash