Your answer is partially correct.

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

It sold land having a fair value of $$904,970$ in exchange for a $4-$year zero$-$interest$-$bearing promissory note in the face amount

of $$1,423,984.$ The land is carried on Bramble's books at a cost of $$596,000.$

It rendered services in exchange for a $3\%,8-$year promissory note having a face value of $$409,570($interest payable annually$).$

Bramble 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 Bramble Inc. for the sales transactions above that took place on July $1,$

$($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 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.$)$

No$.$ Date

July $1,$

$2025$

Account Titles and Explanation

Notes Receivable

Discount on Notes Receivable

Land

Gain on Disposal of Land

July $1,$

$2025$

Service Revenue

Discount on Notes Receivable

Debit

Credit

Credit

Notes Receivable

eTextbook and Media

List of Accounts