Endurance Running Shoes reports the following: 2018 May 6 Recorded credit sales of $102,000. Ignore Cost of

Question:

Endurance Running Shoes reports the following:
2018
May 6 Recorded credit sales of $102,000. Ignore Cost of Goods Sold.
Jul. 1 Loaned $18,000 to Jerry Paul, an executive with the company, on a one-year, 7% note.
Dec. 31 Accrued interest revenue on the Paul note.
2019
Jul. 1 Collected the value of the Paul note.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...