On June 1, 201 8 , Johnson Sons sold equipment to James Landscaping Service i n exchange for a zero interest bearing note with a face value of 110 ,000, with payment due in 12 months The fair value of the equipment on the date of sale w as 10 0 ,000 What is the amount of revenue to be recognized on this transaction in 201 8 and what is the journal entry debit and credit side On June 1, 201 8 , Johnson Sons sold equipment to James Landscaping Service i n exchange for a zero interest bearing note with a face value of 110 ,000, with payment due in 12 months The fair value of the equipment on the date of sale w as 10 0 ,000 What is the amount of revenue to be recognized on this transaction in 201 8 and what is the journal entries on both sides debit and credit

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Question: On June 1, 201 8 , Johnson & Sons sold equipment to James Landscaping Service i n exchange for a zero-interest bearing note with a

On June 1, 2018, Johnson & Sons sold equipment to James Landscaping Service in exchange for a zero-interest bearing note with a face value of 110,000, with payment due in 12 months. The fair value of the equipment on the date of sale was 100,000. What is the amount of revenue to be recognized on this transaction in 2018? and what is the journal entry debit and credit side?

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