to record the revenue to be recognized in December $2024.$

Record note pay

$10-3$

BE$10\mathrm{.}4($LO $1)$ AP Rabbitt Enterprises borrows $$60,000$ from LowLand Trust Co$.$ on July $1,2024,$ signing a $4\%,$ one$-$year note payable.

Interest is to be paid at maturity. Prepare journal entries for Rabbitt Enterprises to record: $($a$)$ the receipt of the proceeds of the note; $($b$)$

$10-9$ the accrued interest at December $31,$ assuming adjusting entries are made only at year end; and $($c$)$ the payment of the note at maturity.

Calculate sales taxes and record sales.