Question
Complete the Journal entries below 1 Your company has just made a sale for $365,000. The Gross Margin on this sale was 40%. The customer
Complete the Journal entries below
1 Your company has just made a sale for $365,000. The Gross Margin on this sale was 40%. The customer is paying you $180,000 now and the rest at some later date.
Record these activities into the journal entry format. Put Dec, 31, 2021 as the date.
2, You have purchased a building for $635,000, and you paid cash.
Record these activities into the journal entry format. Put Dec, 31, 2021 as the date.
3, Pay an attorney for work that she will do at some later date. Pay her $70,000.
Record these activities into the journal entry format. Put Dec, 31, 2021 as the date.
4. Your customers are paying you $650,000 for work that you will do at some later date.
Record these activities into the journal entry format. Put Dec, 31, 2021 as the date.
5. Your customers that owed you are now paying you, $200,000.
Record these activities into the journal entry format. Put Dec, 31, 2021 as the date.
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