Referring to PE 7-9, make the entry necessary for Johnnie Co. if Party King Pub paid cash and interests after 60 days on June 30. Assume that there are 360 days in a year.

PE 7-9,

Johnnie International Company sold 200 boxes of Whiskey bottles, amounting to 8,500, to Party King Pub by accepting a 60-day, 10% note dated May 1, 2022. Make the entry necessary on May 1 for Johnnie Co.