L. Cardinal Company sells merchandise for $24,000 cash on March 31 (cost of merchandise is S12,300). The sales tax law requires Cardinal to collect 8.5% sales tax on every dollar of merchandise sold. Record the entry for the sale and its applicable sales tax. General Journal Date Account Description Debit Credit Star Recreation receives $48,000 cash in advance ticket sales for 12 home games. Record the advance ticket sales on April 30. Record the revenue earned for the first home game played on August 14. 2. General Journal Date Account Description Debit Credit On November 1 , Casey's Snowboards signed a $12,000, 90-day, 5% note payable to cover a past due account payable. a. What amount of interest expense on this note should Casey's Snowboards report on year-end December 31? 3. b. Prepare Casey's journal entry to record the issuance of the note payable c. Prepare Casey's adjusting journal entry at the end of the year. d. Prepare Casey's journal entry to record the payment of the note on February 1 of the following year. General Journal Date Account Description Debit Credit 1 of 10