what is the answer?

solve q 1 and 6

Question On June 14, 2021, COVID Company sold 120 units to Virus Co. The units list for $600 each, but Virus Co. was granted a 25% trade discount. All of COVID's sales are subject to terms 2/10,1/30. Complete Mark0.00 out of 10.00 Flag question Required: A) use the gross method of accounting for sales discounts: 1. Prepare the journal entry to record the sale. 2. Prepare the journal entry to record receipt of the payment, assuming the correct amount was received on June 22,2021 3. Prepare the Journal entry to record receipt of the payment, assuming the correct amount was received on July 10, 2021. B) use the net method of accounting for sales discounts, prepare the Journal entry to record receipt of the payment, assuming the correct amount was recelved on July 10, 2021 Question On October , 2001, COVID Co borrowed a $400.000 note at 12 interest and pledged $500.000 in accounts receivable erst Additionally COVIC waschwa finance fee equal to 1 of the accounts receivable assigned. At the end of October $300,000 of the assigned receivables were collected and remitted to the lenderwory with rued interest 14.00 Required Prepare journal entries to record the borrowing the signment of receivables, the collection on the receivables, and the recognition of intereste andremittance to the lender Question 6 On December 31, 2018, COVID Co finished consultation services and accepted in charge a promissory note with a face value of 400,000, a due date of December 31, 2021. and a stated rate of with interest receivable at the end of each year. The fair value of the services is not readily determinable and the note is not readily marketable Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10 (Note to answer this question, use the tables in the book from page 284 to page 293) Cape Mar 100 of 1200 Patio Instructions (a) Prepare the journal entry to record the transaction of December 31, 2016. Round to whole dos (b) Prepare the journal entry to record the transaction of December 31, 2020. Round to whole dollars)(Show you working of Schedule of Note Amortization 2 Marks for the Schedule. You can ONLY pload the working of the schedule an attachment le Journal entry must be written in the Moodle TEM (ACADEMIC) B-LEARING SERVICES - SQU UBRARIES - SOU PORTAL ATTENDANCE Question On October 1, 2021.COVID Co borrowed a $400.000 note at 12 interest and pledged $500,000 in accounts receivable collateral. Additionally COVID Cacharpa france fee equal to 1 of the accounts receivable wired. At the end of October $300,000 of the signed receivables were collected and remitted to the ender or with cuinterest 14.00 Required Prepare journal entries to record the borrowing the assigmanto receive the collection on the receivables and the recognition of interest perdre to the lender