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10. Marones, Inc., is a manufacturer of specialized instruments. When a cus- tomer places an order, Marones requires a 20 percent nonrefundable down payment, with

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10. Marones, Inc., is a manufacturer of specialized instruments. When a cus- tomer places an order, Marones requires a 20 percent nonrefundable down payment, with the balance of the sale price payable on delivery. a. Al Smith placed in October an order for a $25,000 instrument with a $5,000 down payment. How should Marones record this payment? b. Two months later, Smith receives the new instrument and pays the $20,000 balance of his order. How should Marones record these transactions? c. How is this accounting different from the one for an auto dealer that sells a car with a $4,000 down payment and $16,000 to be paid in monthly installments over 48 months

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