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Hi, please help me with the below question, thank you in advance for your assistance. XYZ Ltd transfer the machine to the customer on 1

Hi, please help me with the below question, thank you in advance for your assistance.
XYZ Ltd transfer the machine to the customer on 1 January 2018 and agrees with the customer to use the following credit terms: pay $240,000 on 31 December 2019 with an interest rate of 10% per annum. Illustrate XYZ's accounting by preparing journal entries.
Extra info: this question is related to the significant fianncing component concept.

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