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Sheridan sells its specialty combination gas/wood. fired grills to local restaurants. Each grill is sold for $910 (cost $514 ) on credit with terms 3/30,

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Sheridan sells its specialty combination gas/wood. fired grills to local restaurants. Each grill is sold for $910 (cost $514 ) on credit with terms 3/30, net/90, Prepare the journal entries for the sale of 20 grills on September 1,2020, and upon payment, assuming the customer paid on (1) September 25, 2020, and (2) October 15, 2020. Assume the company records sales net. (Credit occount tides are automatically indented when the amount is entered. Do not indent manually, If no entry is required, select "No entry" for the occount tities and enter 0 for the amounts. On October 1,2020, sheridan sold one of its super deluxe combination gas/charcoal grills to a local bulder. The bulider plans to instalt it in one of its "Parade of Homes" houses. Sheridan accepted a 3-year, zero-interest-bearing note with face amount of $4,845. The 8rill has an inventory cost of \$2,565. An interest rate of 10% is an appropriate market rate of interest for this customer. Prepare the journal entries on October 1. 2020, and December 31, 2020, (Credit account titles are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the occount titles and enter 0 for the amounts. Round present volue foctor calculations to 5 decimal places, 6.1 .25124 and the final anwer to 0 decimol places es. 58,971 )

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