The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December 2 0 2
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Question:
The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December Interstates fiscal year ends on December
Required:
Prepare the appropriate journal entries for these transactions.
On December received $ from Bradley Farms toward the sale by Interstate of a $ tractor to be delivered to Bradley on January
During December, received $ of refundable deposits relating to containers used to transport equipment parts.
During December, credit sales totaled $ The state sales tax rate is and the local sales tax rate is This is a summary journal entry for the many individual sales transactions for the period.
Note: For all requirements, if no entry is required for a transactionevent select No journal entry required" in the first account field.
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