On July $1,2025,$ Crane Inc. made two sales.

$1.$ It sold land having a fair value of $\backslash (\backslash$$ $915,580\backslash )$ in exchange for a $4-$year zero$-$interest$-$bearing promissory note in the face amount of $\backslash (\backslash$$ $1,440,678\backslash ).$ The land is carried on Crane's books at a cost of $\backslash (\backslash$$ $598,400\backslash ).$

$2.$ It rendered services in exchange for a $3\backslash \%,8-$year promissory note having a face value of $\backslash (\backslash$$ $406,500\backslash )($interest payable annually$).$

Crane Inc. recently had to pay $8\backslash \%$ 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 $12\backslash \%$ interest.

Record the two journal entries that should be recorded by Crane Inc. for the sales transactions above that took place on July $1,2025.($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ 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 D n not indent manually. List all debit entries before credit entries.$)$