On January 1, 2022, Antorio SpA sells property for which it had paid 690,000 to Sargent Company,
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On January 1, 2022, Antorio SpA sells property for which it had paid €690,000 to Sargent Company, receiving in return Sargent’s zero-interest-bearing note for €1,000,000 payable in 5 years. What entry would Antorio make to record the sale, assuming that Antorio frequently sells similar items of property for a cash sales price of €640,000?
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Antorio would make the following entry to record th...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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