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Furtastic manufactures Imitation fur garments. On June 1, 2024, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $250,000
Furtastic manufactures Imitation fur garments. On June 1, 2024, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $250,000 to Furtastic on June 30,2024 . In a separate transaction on June 15,2024 , Furtastic purchased brand advertising services from Willett for $32,000. The falr value of those advertising services is $15,000. Furtastlc expects that 3% of all sales will prove uncollectible. Required: 1. Prepare the Journal entry to record Furtastic's sale on June 1, 2024. 2 Prepare the Journal entry to record Furtastic's purchase of advertising services from Willett on June 15, 2024. Assume all of the advertising services are dellvered on June 15, 2024. 3. Prepare the journal entry to record Furtastic's recelpt of $250,000 from Willett on June 30, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. Furtastic manufactures Imitatlon fur garments. On June 1, 2024, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $250,000 to Furtastic on June 30,2024 . In a separate transaction on June 15,2024 , Furtastic purchased brand advertising services from Willett for $32000. The falr value of those advertising services is $15,000. Furtastlc expects that 3% of all sales will prove uncollectible. Required: 1. Prepare the Journal entry to record Furtastic's sale on June 1, 2024. 2. Prepare the Journal entry to record Furtastic's purchase of advertising services from Willett on June 15, 2024. Assume all of the advertising services are dellvered on June 15, 2024. 3. Prepare the Journal entry to record Furtastic's recelpt of $250,000 from Willett on June 30, 2024. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Journal entry worksheet Note: Enter debits betare credits. Furtastic manufactures Imitation fur garments. On June 1, 2024, Furtastic made a sale to Willett's Department Store under terms that require Willett to pay $250,000 to Furtastic on June 30,2024 . In a separate transaction on June 15,2024 , Furtastic purchased brand advertising services from Willett for $32000. The falr value of those advertising services is $15,000. Furtastlc expects that 3% of all sales will prove uncollectible. Required: 1. Prepare the Journal entry to record Furtastic's sale on June 1, 2024. 2 Prepare the Journal entry to record Furtastic's purchase of advertising services from Willett on June 15, 2024. Assume all of the advertising services are dellvered on June 15, 2024. 3. Prepare the journal entry to record Furtastic's recelpt of $250,000 from Willett on June 30, 2024. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Journal entry worksheet Nate: Enter debits before credits
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