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1. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for th any December 31, 2024 interest accrual,

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1. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for th any December 31, 2024 interest accrual, and the March 31, 2025 collection. 2. What is the effective interest rate on the note? Complete this question by entering your answers in the tabs below. What is the effective interest rate on the note? Note: Round your intermediate calculations and the final percentage answer to 3 decimal places

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