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6. On March 31, Samuel Co. sold $120,000 of goods and accepted the customer's $120,000 10%, 1-year note in exchange. Assuming 10% approximates the market rate of return and interests are paid annually, what would be the journal entry made on December 31? a. Debit to Cash for $9,000 and credit to Interest Revenue for $9,000. b. Debit to Interest receivable for $9,000 and credit to Interest Revenue for $9,000. c. Debit to Notes receivable for $9,000 and credit to Sales Revenue for $9,000. d. No journal entry required. 7. Which of the following statements is incorrect when a company uses a perpetual inventory system? a. Cost of goods sold is recorded for each sale. b. Purchases of merchandise are debited to "Inventory" account. C. Cost of goods sold is determined only when the ending inventory is counted and valued at the end of the period. d. All of these answer choices are correct. 8. When prirer