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Exercise 18-23 (Part Level Submission) Vaughn Inc. enters into an agreement on March 1, 2017, to sell Werner Metal Company aluminum ingots. As part of

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Exercise 18-23 (Part Level Submission) Vaughn Inc. enters into an agreement on March 1, 2017, to sell Werner Metal Company aluminum ingots. As part of the agreement, Vaughn also agrees to repurchase the ingots on May 1, 2017, at the original sales price of $225,000 plus 2%. Prepare the journal entry necessary on March 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Click if you would like to Show Work for this question: Open Show Work

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