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On July 1,2020, Oriole inc madetwo sales. 1. It sold land having a fair value...

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Accounting

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On July 1,2020, Oriole inc madetwo sales. 1. It sold land having a fair value of $905.580 in exchange for a 4 vear zero interest-bearing pramissary note in the fsce arnount of $1,424,943. The land is carried cn Orioles bocks at a cast of $599,000 2. Itreadered services in ecchangelor a3%,8 vear promissonv note having a face value of $400,240 cinterest payatle annually). Oriale inc recently had to pay Bx interest for enoney that it borrowed from British National Eank. The customers in these two transictions have credit rinting that require them to borrow reney at 12% interest. Clidhere to view factor table. Record the two journal entries that shauld tee recorded by Oricle Inc for the sales transactions atove that tool. place can July 1,2020. Do not indent manalily

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