(a1) Your answer is correct. Prepare the journal entry to record this transaction on January 2, 2025. (Credit account titles are automatically indented when 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.) Date Jan. 2, 2025 Jan. 2, 2025 (a2) Account Titles and Explanation Notes Receivable Discount on Notes Receivable Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) eTextbook and Media List of Accounts How much total revenue should be recognized in 2025? Total revenue $ Debit 10500 110 5700 Credit 1000 9500 5700 Attempts: 1 of 5 used
(a1) Your answer is correct. Prepare the journal entry to record this transaction on January 2, 2025. (Credit account titles are automatically indented when 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.) Date Jan. 2, 2025 Jan. 2, 2025 (a2) Account Titles and Explanation Notes Receivable Discount on Notes Receivable Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) eTextbook and Media List of Accounts How much total revenue should be recognized in 2025? Total revenue $ Debit 10500 110 5700 Credit 1000 9500 5700 Attempts: 1 of 5 used
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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