On july 1, 2020, agincourt inc. made two sales. 1. it sold land having a fair value of $700,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,101,460. the land is carried on agincourt's books at a cost of $590,000. 2. it rendered services in exchange for a 3%, 8-year promissory note having a face value of $400,000 (interest payable annually).
record the two journal entries that should be recorded by agincourt inc. for the sales transactions above that took place on july 1, 2020.

There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration