On October 1, 2020, Crane sold one of its super deluxe combination gas charcoal barbecues to a
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On October 1, 2020, Crane sold one of its super deluxe combination gas charcoal barbecues to a local builder The builder plans to install it in one of its Parade of Homes houses Crane accepted a three year, zero interest bearing note with a face amount of $5,218 The barbecue has an inventory cost of $2,646. An interest rate of 10% is an appropriate market rate of interest for this customer Prepare the journal entries on October 1, 2020, and December 31, 2020. Show all calculations
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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