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Bygone Company manufactures and sell computers. On January 1, 2017, the entity sold a computer costing 400,000 for 600,000. The buyer signed a noninterest bearing

Bygone Company manufactures and sell computers. On January 1, 2017, the entity sold a computer costing 400,000 for 600,000. The buyer signed a noninterest bearing note for 600,000 payable in three equal installments every December 31. The cash selling price of the computer is 540,000

REQUIRED: Prepare journal entries for the current year.

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