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The following transactions are for Raffles Corporation: September 1, 2021 received Zhongtai Corporation's 9% annual interest and 2-month promissory note of $40,000. On Oct. 1.
The following transactions are for Raffles Corporation: September 1, 2021 received Zhongtai Corporation's 9% annual interest and 2-month promissory note of $40,000. On Oct. 1. 2021, sold $300,000 of goods to Lily Corporation and received $60,000 in cash and 12% annual interest and 120-days promissory note of $240,000. Please list all possible entries generated by the above transactions. (10%)
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