Prepare the entry Lucy should make on June 30. Based on the above facts, what net profit did Ethel end up earning? 5. (3 points) On 12-31-19, J sold some inventory to T. T was short of cash and J agreed to accept a $500,000, zero-interest bearing note receivable. J will collect the note principle in full on 12-31-22. Under normal circumstances, J earns 3% on its funds. The cost of the inventory sold was $150,000. Prepare the entries J should make on 12-31-19, 12-31-20, 12-31-21, and 12-31-22. The petty