On April 1, 2022, Green Gold Inc sells $515,000 of merchandise on a note, with 1 annual interest The note is due in 1 year, with interest and principle due at that time This company has a financial statement date of 12 31 22 What journal entries must Green Gold Inc record on April 1, 2022, December...

Computation of amount due at the end of the accounting ye ...

On April 1, 2022, Green-Gold Inc. sells $515,000 of merchandise on a note, with 1% annual interest.

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On April 1, 2022, Green-Gold Inc. sells $515,000 of merchandise on a note, with 1% annual interest. The note is due in 1 year, with interest and principle due at that time. This company has a financial statement date of 12/31/22.

What journal entries must Green-Gold Inc. record on April 1, 2022, December 31, 2022, and April 1, 2023. (3 points each of the 3 journal entries)

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Intermediate Accounting IFRS

ISBN: 9781119607519

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Apr 20, 2022 05:39 AM

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On April 1, 2022, Green-Gold Inc. sells $515,000 of merchandise on a note, with 1% annual interest.

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Intermediate Accounting IFRS

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