on december 1, 2019, pinewood company sold machinery to a customer for $2000. pinewood regularly sells machinery. the customer could not pay at the time of sale but agreed to pay 9 month and signed a 9 month note at 12%interest. prepare the journal entry to record the revenue at the time of sale. ignore the entry for cost of goods sold.
on december 1, 2019, pinewood company sold machinery to a customer for $2000. pinewood regularly sells machinery. the customer could not pay at the time of sale but agreed to pay 9 month and signed a 9 month note at 12%interest. prepare the journal entry to record the revenue at the time of sale. ignore the entry for cost of goods sold.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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on december 1, 2019, pinewood company sold machinery to a customer for $2000. pinewood regularly sells machinery. the customer could not pay at the time of sale but agreed to pay 9 month and signed a 9 month note at 12%interest. prepare the
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