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Smith Automotive sold a truck to a customer for $21,000. Smith received a downpayment of $3,400 with the balance to be paid in 60 equal
Smith Automotive sold a truck to a customer for $21,000. Smith received a downpayment of $3,400 with the balance to be paid in 60 equal monthly payments of $374. The cost of the truck to Smith was $16,300. The journal entries to record this sale would include which of the following?
A company exchanged $6,000 in cash and $6,000 in capital stock for office equipment costing $12,000. The journal entry to record this transaction would include which of the following? CREDIT to Capital Stock of $6,000 None of these DEBIT to Cash of $6,000 CREDIT to Office Equipment of $12,000 DEBIT to Capital Stock of $6,000 | |
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