Question
Nelson Ltd sells machine to Dessin Ltd. On August 1, 2015 for 40,000 USD and agrees repurchase it on July 30, 2016 for the price
Nelson Ltd sells machine to Dessin Ltd. On August 1, 2015 for 40,000 USD and agrees repurchase it on July 30, 2016 for the price of 42,400 USD (the imputed interest rate is 6%). Please make all necessary journal entries during the period starting from August 1, 2015 and ending it on July 30, 2016
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Building Accounting Systems Using Access 2010
Authors: James Perry, Richard Newmark
8th Edition
1111530998, 978-1111530990
