On September 1, 2017, Pearl sold one of its storage units designed to be safe for hazardous materials to a manufacturer. Pearl accepted a 4-year, zero-interest-bearing note with face amount of $ 91,046. The storage unit has an inventory cost of $ 36,800. An interest rate of 9% is an appropriate market rate of interest for this customer. Prepare the journal entries on September 1, 2017, and December 31, 2017. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. 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 0 for the amounts.)
On September 1, 2017, Pearl sold one of its storage units designed to be safe for hazardous materials to a manufacturer. Pearl accepted a 4-year, zero-interest-bearing note with face amount of $ 91,046. The storage unit has an inventory cost of $ 36,800. An interest rate of 9% is an appropriate market rate of interest for this customer. Prepare the
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