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Tokyo imports sold merchandise to Tall-Mart. Receiving a six-month, noninterest-bearing note for $155,000. The implied discount rate on the note is 9.8% per annum. Tokyo

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Tokyo imports sold merchandise to Tall-Mart. Receiving a six-month, noninterest-bearing note for $155,000. The implied discount rate on the note is 9.8% per annum. Tokyo uses a periodic inventory system Required: Prepare the journal entry to record the sale.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal Entry Worksheet

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