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Record the following * Question 9 Your answer is correct. On May 1, Cullumber Co. sold merchandise on account to Kaneva Inc. for $32,400, terms

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Record the following * Question 9 Your answer is correct. On May 1, Cullumber Co. sold merchandise on account to Kaneva Inc. for $32,400, terms 2/10, 1/30. 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 o for the amounts.) Date Ad Exploration DC My Accounts Receivable 02400 32400 (to record sale on account.) Attempts: 2 of 15 used * Question 9 Your answer is correct. On June 30, Cullumber Co. charged Kaneva Inc. one month's interest for the overdue account. Cullumber 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 o for the amounts.) Date Ad Exploma Debit Credit Accounts Receivable 097 12-97 Interest Revenue (To record interest earned.) Attempts of 15 used * Question 9 Your answer is correct. On July 5, Kaneva paid the amount owing to Cullumber 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 o for the amounts.) Dute Are Tikes and plante Del Ced July Cash 0.2697 02687 Accounts Receivable (Collection on account.)

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