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Suppose that on January 1, 2020, Boeing sells one of its 777 series planes to Singapore Airlines on account-its first and only transaction on

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Suppose that on January 1, 2020, Boeing sells one of its 777 series planes to Singapore Airlines on account-its first and only transaction on the first day of the fiscal year. The sales price is $400 million and the inventory cost $330 million to manufacture. Record the journal entry for this transaction. Note: Enter your answers in millions. View transaction list Journal entry worksheet 2 Record the sale of one of its 777 series planes, Boeing, to Singapore Airlines on account for $400 million. Note: Enter debits before credits. Date January 01, 2020 General Journal Debit Credit Record entry Clear entry View general journal Show less

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