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3. ENTRIES FOR RECEIPT OF NOTES RECEIVABLE (10 Points) - In the space provided on your answer sheet, prepare the journal entries for the following

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3. ENTRIES FOR RECEIPT OF NOTES RECEIVABLE (10 Points) - In the space provided on your answer sheet, prepare the journal entries for the following Note Receivable transactions: Date Transaction Jul. 1, Journalize the entry for a sale of a haunted ambulance to Ghostbusters Inc. 2019 to for $100,000 on a 2 year Note Receivable. The Note receivable interest rate is 3%. Cost of Goods Sold for the sale is $50,000 Dec. 31, Journalize the transaction for the end of the year adjusting entry for interest. 2019 Jul. 1, Record the entry to receive the payment in full on the Note Receivable with Ghostbusters and all the interest through today. 1 2020 Journal to be used for question 3: Editing Voice Sensit Date Accounts DR CR

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