Homework: HW 7 - Chapter 7 Save Score: 0 of 4 pts 6 of 10 (2 complete) HW Score: 6.38%, 3 of 47 pts E7-26A (similar to) Question Help Journalize the following transactions of Arabian Inc., which ends its accounting year on June 30: Apr Jun 1 Loaned $19,000 cash to Carroll Fadal on a one-year, 12% note. 6 Sold goods to Friday Corp. receiving a 90-day, 6% note for $10,000. Ignore cost of goods sold. 30 Made a single entry to accrue interest revenue on both notes. Use a 36 ay year for interest computations and round to nearest dolar Record debits first, then credits. Exclude explanations from any journal entries.) Journalize the loan to Carroll Fadal. Journal Entry Date Accounts Debit Credit Apr