Question 6 Needs Grading 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

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Question 6 Needs Grading 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

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Question 6 Needs Grading 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

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