Q1. On June 1, 2017, ABC sold merchandize for $30,000 on credit. On June 23, 2017, the customer paid $30,000 and he is not planning to pay the remaining amount. Record journal entries for June 1, 2017 and June 23, 2017. (use the write-off Method). (2 Points for each transaction, total 4 Points) Q2. Yale Co. issued a Note with a face value of $15,000 with a maturity date of 130 days at an interest rate of 6% per year. a. Record the journal entry at the day of note issuance. (2 Points) b. What is interest at the end of 130 days? (2 Points) c. Record the journal entry at maturity date when Yale Co. collects cash. (2 Points) Section: Q1. On June 1, 2017, ABC sold merchandize for $50,000 on credit. On June 23, 2017, the customer paid $30,000 and he is not planning to pay the remaining amount. Record journal entries for June 1, 2017 and June 23, 2017. (use the write-off Method). (2 Points for each transaction, total 4 Points) Q2. Yale Co. issued a Note with a face value of $15,000 with a maturity date of 130 days at an interest rate of 6% per year. a. Record the journal entry at the day of note issuance. (2 Points) b. What is interest at the end of 130 days? (2 Points) c. Record the journal entry at maturity date when Yale Co. collects cash. (2 Points)