Question: Question 1 Your answer is partially correct. Try again. On January 2, 2017, Stellar Inc. sells goods to Geo Company in exchange for a zero-interest-bearing
Question 1 Your answer is partially correct. Try again. On January 2, 2017, Stellar Inc. sells goods to Geo Company in exchange for a zero-interest-bearing note with face value of $9,000, with payment due in 12 months. The fair value of the goods at the date of sale is $8,100 (cost $4,860) Prepare the journal entry to record this transaction on January 2, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Dse Account Titles and Explanation Jan. 2, 2017 |Nstes R To record sales) To record cost of goods sold) How much total revenue should be recognized in 2017? Total revenue LIST OF NCCOUNTS
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