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Date 12/31/2019 Sold Equipment that has an cost of $150,000; The company received in exchange a down payment of $80,000 and a Note for $250,000
| Date | |||
| 12/31/2019 | Sold Equipment that has an cost of $150,000; | ||
| The company received in exchange a down payment of $80,000 and a Note | |||
| for $250,000 to be paid 12/31/22 | |||
| The stated rate of interest for the note is 6%. | |||
| Requirement A: | |||
| Record the original transaction, for the seller. | |||
| Record the transactions through 12/31/22 | |||
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Todays Mood Is Sponsored By Auditing
Authors: Ruby Publishing
1st Edition
B08BG52SST, 979-8655512771
