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Furtastic manufactures imitation fur garments. On June 1, 2018, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $160,000
Furtastic manufactures imitation fur garments. On June 1, 2018, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $160,000 to Furtastic on June 30, 2018. In a separate transaction on June 15, 2018, Furtastic purchased brand advertising services from Willett for $14,000. The fair value of those advertising services is $6,000. Funtastic expects that 3% of all sales will prove uncollectible. Required 1to 3. Prepare the journal entries to record the transactions above. (If nentry is required for Journal entry required" In the first account field.) transaction/event, select "No View transaction list Journal entry worksheet Record the Furtastic's sale on June 1, 2018. Note: Enter debits before credits Date General Journal Debit Credit June 01, 2018 Record entry Clear entry View general journal
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