Brief Exercise 8-11 Crown Point Ltd. sells merchandise on April 1, 2017, to Red River Enterprises in return for a 12-month, 8%, $15,600 note, with interest due at maturity. The company uses a perpetual inventory system and the cost of the inventory sold was $10,140. Crown Point has a December 31 year end and adjusts its accounts annually. Prepare the journal entries that Crown Point will record with regard to this note from April 1, 2017, until the note matures on March 31, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of merchandise sold)