6. On May 1, 2025, Cullumber Company enters into a contract to transfer a product to Gary Company on September 30, 2025. It is agreed that Gary will pay the full price of $24,040 in advance on June 15, 2025. Gary pays on June 15, 2025, and Cullumber delivers the product on September 30, 2025. Prepare the journal entries required for Cullumber in 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit
6. On May 1, 2025, Cullumber Company enters into a contract to transfer a product to Gary Company on September 30, 2025. It is agreed that Gary will pay the full price of $24,040 in advance on June 15, 2025. Gary pays on June 15, 2025, and Cullumber delivers the product on September 30, 2025. Prepare the journal entries required for Cullumber in 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14EB: Anderson Air is a customer of Handler Cleaning Operations. For Anderson Airs latest purchase on...
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