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On January 1, 2019, BB Jane Inc sold goods for $35,000 and offered the customer no interest and no payments for three years. $35,000 is
On January 1, 2019, BB Jane Inc sold goods for $35,000 and offered the customer no interest and no payments for three years. $35,000 is due on December 31, 2021. The interest rate for this type of transaction is 6.75%. Required Prepare all the journal entries required for the years 2019, 2020, and 2021 to account for the sale of goods all the way to the payoff of the note. Round all calculations and journal entry amounts to the nearest dollar.
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