On January $1,2025,$ Marigold Co$.$ sells land for which it had paid $$712,300$ to Sargent Company, receiving in return Sargent's zero$-$

interest$-$bearing note for $$1,100,000$ payable in $5$ years. What entry would Marigold make to record the sale, assuming that Marigold

frequently sells similar items of land for a cash sales price of $$656,000?($If no entry is required, select $"$No Entry" for the account titles and

enter O 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.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

Notes Receivable

On December $31,2025,$ Marigold Company signed a $$1,049,400$ note to Swifty Bank. The market interest rate at that time was $10\%.$

The stated interest rate on the note was $8\%,$ payable annually. The note matures in $5$ years. Unfortunately, because of lower sales,

Marigold's financial situation worsened. On December $31,2027,$ Swifty Bank determined that it was probable that the company

would pay back only $$629,640$ of the principal at maturity. However, it was considered likely that interest would continue to be paid,

based on the $$1,049,400$ loan.

$($a$)$

Your answer is incorrect.

Determine the amount of cash Marigold received from the loan on December $31,2025.($Round present value factors to $5$ decimal

places, e$.$g$.0\mathrm{.}52513$ and final answer to $0$ decimal places, e$.$g$.5,275.)$

Amount of cash Marigold received from the loan $

$969576$

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

On December $31,2025,$ Waterway Company borrowed $$44,583$ from Wildhorse Bank, signing a $6-$year, $$88,000$ zero$-$interest$-$

bearing note. The note was issued to yield $12\%$ interest. Unfortunately, during $2027,$ Waterway began to experience financial

difficulty. As a result, at December $31,2027.$ Wildhorse Bank determined that it was probable that it would receive back only

$$52,800$ at maturity. The market rate of interest on loans of this nature is now $15\%.$

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$($a$)$

Your answer is partially correct.

Prepare the entry to record the issuance of the loan by Wildhorse Bank on December $31,2025.($Round present value factor

calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to O decimal places, e$.$g$.5,275.$ Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for

the amounts. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

December

$31,2025$

Debit

Credit

Discount on Notes Receivable

List of Accounts

$.$

$43,417$

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.