Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Installment method journal entries (https://www.askmehelpdesk.com/showthread.php?t=648473)

  • Apr 4, 2012, 04:10 PM
    ACCTGUY
    Installment method journal entries
    ABC INC SOLD 1,250,000 machine to XYZ INC on OCT 15th for $ 150,000 down and 10 monthly payments of $ 110,000 Machine COST ABC $ 500,000 Show OCT 15th Entry with CASH PAYMENT of $ 150,000 Hint Use Installment method and Defer GROSS MARGIN SHow NOV 15th entry if $ 220,000 paid instead of $ 110,000

    Just want journal entries
  • Apr 4, 2012, 10:14 PM
    paraclete
    So you are not going to bring the sales to account until you are paid

  • All times are GMT -7. The time now is 05:19 PM.