Question
BE18-7 On January 2, 2015, Adani Inc. sells goods (cost R$6,000) to Geo Company in exchange for a zero- interest-bearing note with face value of
BE18-7 On January 2, 2015, Adani Inc. sells goods (cost R$6,000) to Geo Company in exchange for a zero- interest-bearing note with face value of R$11,000, with payment due in 12 months. The fairvalue of the goods at the date of sale isR$10,000. Prepare the journal entry to record thistransaction onJanuary 2, 2015. How much total revenue should be recognized on this sale in 2015?
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Credentialing Audits Tools For Compliance And Reduced Liability
Authors: CPMSM Vicki L. Searcy
1st Edition
1578398584, 978-1578398584
