 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
Check out some similar questions!
Land recorded on gl at $7500 was sold on account for $10,000. What entries do I book to record the sale and the gain on the sale as well as the receivable and payment on account? Thanks.
Hey, here's the info. Dec. 1/04: Sold inventory for $60000. $10000 cash down payment, 20000 payable Dec. 1/05, and 30000 payable Dec. 1/06. The cost of inventory was 40000. Customer signed an installment note which called for interest at 12% on unpaid balance on Dec. 31 '04 and '05 and Dec....
Hi there, I need some guidance for the following, which can be confusing. Company A is selling vouchers, which the client can use as 1 night in a hotel. When used, the company A will pay the hotel. Technically the company is selling services to the hotels, and the revenue is recognised only...
I need to record a journal entry in the following scenario: 1. Sale of property which we have an existing loan on. 2. We will carry the loan for the property to the new owner for one year. 3. We will continue making payments on our loan. The legal paperwork is called a "Wrap-Around Note". ...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
