Question: Adjusting Entries PT. XYZ is a company engaged in the sale of live chickens. The conditions set by the Company, consumers are required to make

Adjusting Entries
PT. XYZ is a company engaged in the sale of live chickens. The conditions set by the Company, consumers are required to make a payment of 50% before shipping chickens and 50% when chickens are received by consumers. PT ABC purchased live chickens to PT XYZ on March 12, 2018 for $ 1000, - and paid $ 500 to PT XYZ on the same date. Because March 13 and 14 2018 are holidays, PT XYZ can only send live chicken orders to PT ABC on March 15.
a. Keep a journal for PT XYZ for the transaction (ignore the journal related to inventory)!
b. What type of journal do you use to record transactions on 12 March 2018!

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