On May 1, Sunland Co. sold merchandise on account to Kaneva Inc. for $24,000, terms 2/10,n/30. Ignore any entries that affect inventory, cost of goods sold, and refund liability for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit 24000 Date Account Titles and Explanation May 1 Accounts Receivable Sales Returns and Allowances (To record sale on account.) 24000 e Textbook and Media List of Accounts On June 30, Sunland Co. charged Kaneva Inc. one month's interest for the overdue account. Sunland charges 11% on overdue accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation June 30 (To record interest earned.) On July 5, Kaneva paid the amount owing to Sunland Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 5 (Collection on account.)