Question
On July 1, 2020 Riverbed Company made a $38,500 sale to a customer and accepted a noninterest-bearing note due June 30, 2022. A rate of
On July 1, 2020 Riverbed Company made a $38,500 sale to a customer and accepted a noninterest-bearing note due June 30, 2022. A rate of 9% is reasonable for this type of transaction. Prepare the journal entries to record the sale and 2020 and 2021 year end adjusting entries (You may ignore the entry for the cost of merchandise sold):
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Excel For Accountants Tips, Tricks & Techniques
Authors: Conrad Carlberg
1st Edition
1932925015, 9781932925012
