Purrfect Pets,Inc. ,had the following transactions.Prepare the required journal entries.
a.October 1: Sold $10,000 of merchandise on account,1/10,n/30 to Fabulous Felines.
b.November 1: Accepted a $10,000,90-day,10% promissory note from Fabulous Felines in exchange for its account receivable.
c.December 31: Accrued interest on the note.Round to the nearest whole dollar amount.
d.January 31: Received payment in full of principal and interest on the note from Fabulous Felines.
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