$22$

months with the principle amount, People's Networks has a year end of October $31.$

Do not enter dollar signs or commas in the input boxes.

Round all answers to the nearest whole number.

For transaction with two debits or credits enter the debit accounts in alphabetical order followed by the credit accounts in alphabetical order.

a$)$ Record the journal entry when the sale is made; assume People's Networks uses the perpetual inventory system.

$\backslash$table$[[$Date$,$Account Title and Expla,nation,Debit,Credit$],[$May $1,$Notes Receivable,,$46100,],[$Sales Revenue,$=>,,46100],[$To record sales for notes receivable,,$],[$May $1,$Cost of Goods Sold,$,20745,],[$Merchandise Inventory :$,,20745],[$To record cost of goods sold,,$]]$

b$)$ Prepare journal entries for the year end adjustment on October $31,2023.$

$\backslash$table$[[$Date$,$Account Title and Explanation,Debit,Credit$],[$Oct $31,$Interest Payable,,$],[,$Interest Revenue,,$],[,$To record accrued interest revenue,,$]]$

c$)$ Prepare journal entries for receipt of payment from Florida Autos on January $1,2024.$

$\backslash$table$[[$Date$,$Account Title and Explanation,Debit,Credit$],[$Jan $1,$Cash,$**,],[,$Interest Receivable,,$],[,$Notes Receivable,$**,],[,$Interest Revenue,,$],[,$To record the receipt of payment for principle and interest,,$]]$