Part 1 of 3 of 1 Cheris Associates sold a piece of equipment to Kitt Company on September 1, 2020, for $870,000. Cheris agreed to accept a 7-month, 3% note with interest due on its maturity date, March 31, 2021. Cheris prepares financial statements only at its calendar year-end. Prepare the journal entries to record the sale, the accrued interest revenue, and the full collection at maturity. + Prepare the journal entry required to record the sale. (Record debits first, then credits. Exclude explanations from any journal entries.) Cheris Associates sold a piece of equipment to Kitt Company on September 1, 2020. Account September 1, 2020 Prepare the journal entries to record the sale, the accrued interest revenue, and the full collection at maturity, GOOD Prepare the journal entry required to record the sale. (Record debits first, then credits. Exclude explanations from any Journal entries.) Cheris Associates sold a piece of equipment to Kitt Company on September 1, 2020. Account September 1, 2020 OMPA to) 11 of 3 O Points: 0 of 1 Cash C a Gain on Sale of Receivables fi Interest Receivable F company on September 1, 2020, for $870, le on its maturity date, March 31, 2021. Ch crued interest revenue, and the full collectio Interest Revenue Loss on Sale of Receivables F (Record debits first, then credits. Exclude e a Notes Receivable Company on September 1, 2020. Sales Revenue September 1, 2020