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On August 15th, Newell Coach, Inc. sold a bus to Post Malone Productions for $ 124,000 on account. The cost of bus was $69,300. Newell
On August 15th, Newell Coach, Inc. sold a bus to Post Malone Productions for $ 124,000 on account. The cost of bus was $69,300. Newell paid $1,320 to deliver the bus to Post Malone Productions. There are three separate transactions required to record these events. Assume all of the transactions occur on August 15th. Record and label each of the following transactions: A) Record the sale transaction on August 15th using good form. B) Record the transaction to reflect the change to inventory on August 15th using good form. C) Record the payment for shipping costs on August 15th using good form. Note: This question will be manually graded due to there being more than one way to list the accounts. Make sure to format your entries properly, whether you are using a table or plain text entry. A good form journal entry should include the date, and clearly identify the particular account debited (and the amount), as well as the account credited (and the amount)
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