ent to Park Products, Inc., at a selling price of $3,960,000. Lamey's agreed to accept a 10-mon is reasonable when compared to the going market rate of interest for similar financing arrange . eve Requirements dan Day 1 Prepare the journal entries to record the following events: a. The equipment sale on May 1, 2018. Ignore cost of goods sold and the reduction of inventory. The year-end interest accrual on December 31, 2018. The collection of the note receivable on its maturity date of March 1, 2019. Assume that Lamey's sells the note receivable on January 15, 2019, for $4,041,050. Record the journal entry for the sale. Assume the transaction qualifies as a sale. ields and the Print Done Clear All E9-16 (similar to) on its maurity date, on May.2016 Lay's Heavy Equipment sold a prece of women to Park Products, inc. at a sing pion of 3.000.000. Lamoy's agreed to accept a 10-month note with interest March 2010 Lamy's yow-end December 31. Assume that is not win compared to the going market rate of interest for si n ancing arrangements Read the Exclude explanations from any journali s ) Requirements. Prepare the journal entries to record the following events (ecord de dist ance a. The aiment sale on May 1, 2010. Ignore cost of goods sold and the reduction of inventory