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On December 31, 2025, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $115,805, accepting $44,800 down and agreeing to accept the balance in four equal installments of $22.400 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) Show Transcribed Text Prepare the entry that would be recorded by Windsor Inc. for the sale on December 31, 2025. (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Notes Receivable Discount on Notes Receivable 3 Service Revenue Debit 44800 Credit 101 115805

On December 31, 2025, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $115,805, accepting $44,800 down and agreeing to accept the balance in four equal installments of $22.400 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) Show Transcribed Text Prepare the entry that would be recorded by Windsor Inc. for the sale on December 31, 2025. (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Notes Receivable Discount on Notes Receivable 3 Service Revenue Debit 44800 Credit 101 115805

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On December 31, 2025, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $115,805, accepting $44,800 down and agreeing to accept the balance in four equal installments of $22,400 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) Show Transcribed Text Prepare the entry that would be recorded by Windsor Inc. for the sale on December 31, 2025. (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Notes Receivable Discount on Notes Receivable Service Revenue Debit 44800 Credit 115805
Transcribed Image Text:On December 31, 2025, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $115,805, accepting $44,800 down and agreeing to accept the balance in four equal installments of $22,400 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) Show Transcribed Text Prepare the entry that would be recorded by Windsor Inc. for the sale on December 31, 2025. (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Notes Receivable Discount on Notes Receivable Service Revenue Debit 44800 Credit 115805
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