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On Jandary 1, 2025, Sundhill Company makes the two following acquisitions. 1. Purchases land having...

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Accounting

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On Jandary 1, 2025, Sundhill Company makes the two following acquisitions. 1. Purchases land having a fair value of $360,000.00 by issuing a 4 -year, zero-interest-bearing promissory note in the face amount of $566,467. 2. Purchases equipment by issuing a 7%6,9 year promissory note having a maturity value of 5520,000.00 (interest payable aninually) . The company has to pay 129 interest for funds from its bank. Click bere to view factor tables, (a) Record the two journat entries that should be recorded by Sandhili Company for the two purchases on January 1,202.5, (b) Record the interest at the end of the first year on both notes using the effective interest method. No. (a) 1. 2 (b) 1 2 STE Man11y octidy

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