$2$

Exercise $2-6($Static$)$ Analyzing effects of a compound entry LO A$1$

$10$ points

Groro Company bills a client $$62,000$ for services provided and agrees to accept the following three items in full payment:

$(1)$ $$10,000$ cash,

$(2)$ $$80,000$ of equipment, and

$(3)$ $$28,000$ note payable owed on the equipment.

Complete this question by entering your answers in the tabs below.

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Required A

Required B

Required C

References

Post the entry using T $-$accounts to represent ledger accounts.