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plz help On December 31,2023, Sandhill Co, rendered services to Indigo Corporation at an agreed price of $110,212.92. In payment, Sandhill accepted $43,200 cash and
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On December 31,2023, Sandhill Co, rendered services to Indigo Corporation at an agreed price of $110,212.92. In payment, Sandhill accepted $43,200 cash and agreed to receive the balance in four equal installments of $21,600 that are due each December 31 starting in 2024 . An interest rate of 11% is applicable. Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. The tables in this problem are to be used as a reference for this problem. Prepare the entries recorded by Sandhill for the sale and for the receipts including interest. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry* for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.75. List all debit entries before credit entries.) Step by Step Solution
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