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The company develops computer systems for auto dealers on November 1, 2014, company installed a $888.800 System for the auto dealer. This company agreed to
The company develops computer systems for auto dealers on November 1, 2014, company installed a $888.800 System for the auto dealer. This company agreed to except a $920,000 three-month, non-interest-bearing note due on February 1, 2015. Company prepares financial statements at the end of every calendar year prepare all journal entries necessary for the term of the note for company.
I November 1, 2014, company installed 888, 800 in sales and service system agreeing to except $920,000. A three month non-interest bearing note - picture 1
On December 31st 2014 company records the interest revenue-picture 2
On February 1, 2015 company requires the collection of note- picture 3
On February 1, 2015 company records the interest revenue-picture 4
Options for accounts are cash, discount on notes receivable, interest receivable, interest revenue, notes receivable, sale revenue,
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