On June 30, 2024, the Esquire Company sold some merchandise to a customer for $54,000. In payment, Esquire agreed to accept a 7% note requiring the payment of interest and principal on March 31, 2025. The 7% rate is appropriate in this situation. Required: 1. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold). the December 31, 2024 interest accrual, and the March 31, 2025 collection. 2. If the December 31 adjusting entry for the interest sccrual is not prepared, by how much will income before income taxes be over- or understated in 2024 and 2025? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold), the December 31, 2024 interest accrual, and the March 31, 2025 colection Note: If no entry is required for a transaction/event, select "No journal entry required in the Pst account field. Do not round intermediate calculations Wew transaction st Journal entry worksheet 2 3 Record the sale of merchandise. Fuste Enter debts before credits. Date June 30, 2024 Facord entry General Journal Debit Credit > Show less &