On August 24th 2022 at 8:51 p.m Ahmed and Hara sign an agreement; Hara is going...
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On August 24th 2022 at 8:51 p.m Ahmed and Hara sign an agreement; Hara is going to sell to Ahmed $500,000 worth of machines. The machines are on consignment with Kat in her warehouse. Melissa bloom went to Katie's warehouse and identified that Hawra does in fact have those machines. The machines will be delivered to Ahmed on December 1st 2022. However, If Hawra fails to deliver those machines on December 1st 2022, she will be paying a fine worth $200. Note: That fine is legally enforceable. Questions: 1. What transactions should be booked at midnight on August 24th at the time of signature by both Ahmed and Hara? 2. What transactions should be booked on December 1st at midnight if Hara does in fact deliver those machines? 3. What transactions should be booked on December 1st at midnight if Hara fails to deliver those machines? On August 24th 2022 at 8:51 p.m Ahmed and Hara sign an agreement; Hara is going to sell to Ahmed $500,000 worth of machines. The machines are on consignment with Kat in her warehouse. Melissa bloom went to Katie's warehouse and identified that Hawra does in fact have those machines. The machines will be delivered to Ahmed on December 1st 2022. However, If Hawra fails to deliver those machines on December 1st 2022, she will be paying a fine worth $200. Note: That fine is legally enforceable. Questions: 1. What transactions should be booked at midnight on August 24th at the time of signature by both Ahmed and Hara? 2. What transactions should be booked on December 1st at midnight if Hara does in fact deliver those machines? 3. What transactions should be booked on December 1st at midnight if Hara fails to deliver those machines? On August 24th 2022 at 8:51 p.m Ahmed and Hara sign an agreement; Hara is going to sell to Ahmed $500,000 worth of machines. The machines are on consignment with Kat in her warehouse. Melissa bloom went to Katie's warehouse and identified that Hawra does in fact have those machines. The machines will be delivered to Ahmed on December 1st 2022. However, If Hawra fails to deliver those machines on December 1st 2022, she will be paying a fine worth $200. Note: That fine is legally enforceable. Questions: 1. What transactions should be booked at midnight on August 24th at the time of signature by both Ahmed and Hara? 2. What transactions should be booked on December 1st at midnight if Hara does in fact deliver those machines? 3. What transactions should be booked on December 1st at midnight if Hara fails to deliver those machines? On August 24th 2022 at 8:51 p.m Ahmed and Hara sign an agreement; Hara is going to sell to Ahmed $500,000 worth of machines. The machines are on consignment with Kat in her warehouse. Melissa bloom went to Katie's warehouse and identified that Hawra does in fact have those machines. The machines will be delivered to Ahmed on December 1st 2022. However, If Hawra fails to deliver those machines on December 1st 2022, she will be paying a fine worth $200. Note: That fine is legally enforceable. Questions: 1. What transactions should be booked at midnight on August 24th at the time of signature by both Ahmed and Hara? 2. What transactions should be booked on December 1st at midnight if Hara does in fact deliver those machines? 3. What transactions should be booked on December 1st at midnight if Hara fails to deliver those machines?
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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