Question 4 View Policies Current Attempt in Progress Record the following transactions on the books of Sandhill Co.: On May 1, Sandhill Co. sold merchandise on account to Kaneva Inc. for $26,400, terms 2/10, 1/30. Ignore any entries that affect inventory, cost of goods sold, and refund liability for the purposes of this question. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit May 1 (To record sale on account.) On June 30, Sandhill Co.charged Kaneva Inc. one month's interest for the overdue account. Sandhill charges 11% on overdue accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit June 30 (To record interest earned.) e Textbook and Media List of Accounts On July 5, Kaneva paid the amount owing to Sandhill Co. (Credit account titles are automatically indented when the amount is en Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 5 (Collection on account.)