JOU SEUS QUESTION 5 1. On December 15, 2013, Noor Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Terms called for a down payment of $900,000 with the balance in four equal annual installments payable. Due to the significant uncertainty in collectibility, Noor appropriately uses the IFRS method for significant uncertainty to account for this transaction. Ignore interest charges. Noor has a December 31 year-end. Record the journal entries needed to record on December 15, 2013 and December 15, 2014, Attach File Browse My Computer Browse Content Collection QUESTION 6 On December 15, 2013, Noor Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Terms called for a down payment of $900,000 with the balance in four equal annual installments payable. Due to the significant uncertainty in collectibility, Noor appropriately uses the IFRS method for significant uncertainty to account for this transaction. Ignore interest charges. Noor has a December 31 year-end. If there had been no significant uncertainty in collectibility, what would Noor record the sales date and received cash down payment on December 15,2013? Attach File Browse My Computer Browse Content Collection Close Window Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. Ai w 6