Question
1.World Soccer sells new goals to a customer for $1 million. The goals are delivered immediately, but payment isn't due until two years from the
1.World Soccer sells new goals to a customer for $1 million. The goals are delivered immediately, but payment isn't due until two years from the purchase date. The typical credit rate for this customer because of its credit characteristics is 8%. What are the journal entries World Soccer will record over the two-year period?
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
3rd edition
78025427, 978-0077736460, 007773646X, 978-0078025426
