Question 6 Not complete Marked out of 10.00 Recording and Reporting Transactions with Short- Term, Interest-Bearing Note Receivable On May 1, Swimm Company sold merchandise to Lochte and received a $60,720 (face amount), one-year, non-interest-bearing note. The market rate is 10%. Lochte paid the note in full on its maturity date. - Note: Round answers to the following questions to the nearest whole dollar. a. Prepare entries for Swimm Company on May 1 and December 31 (year-end adjustment). Amortize the discount on the note receivable using the straight-line method. Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Receivable from Factor Note Receivable Discount on Note Receivable Payable to Seller of Receivables Refund Liability Recourse Liability Note Payable Sales Revenue Sales Returns Sales Discount Sales Discount Forfeited Financing Revenue Interest Revenue Cost of Goods Sold Bad Debt Expense Finance Expense Interest Expense Loss on Sale of Note Loss on Sale of Receivables N/A