Submission 2021 Deadline: Maximum Marks: 10 28-06- On May 2, 2020, Global LLC sold goods on credit to a customer for OMR 40,000, terms 1.5/10, n/30. The customer was experiencing difficulty in paying his due. On July 1, 2020, Global LLC accepted a ninety day, 2% note of OMR 40,000 from the customer in exchange of extending the payment period of outstanding account receivable from him. Prepare journal entries in the books of Global LLC for the following transaction 2. Credit sales made on May 2, 2020 h. Acceptance of the note on July 1, 2020 Honoring of the note at the maturity date and d. Assume, Dishonoring of the note at the maturity date. Journal Entries (5 Marks) Date Particulars Debit (OMR) Credit (OMR)