Question
Your company sells furniture. On December 1, 2015, a customer buys $6,000 worth of furniture. They take out financing that gives them 6 months to
Your company sells furniture. On December 1, 2015, a customer buys $6,000 worth of furniture. They take out financing that gives them 6 months to pay, but the customer will pay $6,600 at that time.
The adjusting journal entry on December 31, 2015 is:
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Cost Estimating
Authors: Rodney D. Stewart
2nd Edition
0471857076, 978-0471857075
