please help me On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright received anote requiring payment of $519,000 by Elmira on December 31, 2023. The effective interest rate is 6% (EV of $1. PV of $1. FVA of $1.PVA of $1. EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.)Required:1. How much sales revenue would Wright recognize on January 1, 2021, for this transaction?2. Prepare journal entries to record the sale of merchandise on January 1, 2021 (omit any entry that might be required for the cost ofthe goods sold), the December 31, 2021, interest accrual, the December 31, 2022, interest accrual, and receipt of payment of the noteon December 31, 2023Complete this question by entering your answers in the tabs below.RequiredNoPrepare journal entries to record the sale of merchandise on January 1, 2021 (omit any entry that might be required for thecost of the goods sold), the December 31, 2021, interest accrual, the December 31, 2022, interest accrual, and receipt ofpayment of the note on December 31, 2023. (If no entry is required for a transaction/event, select "No journal entryrequired in the first account field. Do not round intermediate calculations and round your final answers to nearest wholenumber.)12Required 23Answer is complete but not entirely correct.DateJanuary 01, 2021 Notes receivableGeneral JournalDiscount on notes receivableSales revenueDecember 31, 202 Discount on notes receivableInterest revenueDecember 31, 202 Discount on notes receivableInterest revenue***0000Debit520,00022.80523,946Credit71,892456,10822.80523.946Show less A

The question is based on the concept of Financial Accounting.

On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright received a note requiring payment of $519,000 by Elmira on December 31, 2023. The effective interest rate is 6%. ( EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of 5) (Use appropriate factor(s) from the tables provided.) Required: 1. How much sales revenue would Wright recognize on January 1, 2021, for this transaction? 2. Prepare journal entries to record the sale of merchandise on January 1, 2021 (omit any entry that might be required for the cost of the goods sold), the December 31, 2021, interest accrual, the December 31, 2022, interest accrual, and receipt of payment of the note on December 31, 2023 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below.