Part $3$ Notes receivable $($Interest$-$bearing note$)$; financial statement effects

On June $30,2024,$ the Esquire Company sold some merchandise to a customer for $$58,000.$ In payment, Esquire agreed to accept a $9\%$ note requiring the payment of interest and principal on March $31,2025.$

The $9\%$ rate is appropriate in this situation.

$1$ 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 accrual is not prepared, by how much will income before income taxes be over$-$ or understated in $2024$ and $2025?$

over or understated?