Question
Question 8 (Total 7 marks) On 2022/06/15, Elephant Company signed a contract to deliver a truck to Kimberland Company within one month. Kimberland agreed to
Question 8 (Total 7 marks)
On 2022/06/15, Elephant Company signed a contract to deliver a truck to Kimberland Company within one month. Kimberland agreed to pay $120,000 in advance on 2022/07/05 and did as it promised. On 2022/07/15, Elephant delivered the truck costing $72,000.
Instructions
Prepare the journal entries for Elephant Company on the three dates mentioned above.
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Audit Guide Audit Sampling
Authors: AICPA
2nd Edition
195068833X, 978-1950688333
