Please list all of the journal entries for 2022 the New Mexico Computing Contract. Your company name is PP. See below information: On July 1st, PP signed a contract with New Mexico PP will provide New Mexico with 525 scooters, for $605 each. New Mexico did not purchase the service agreement. PP will deliver the scooters in 2 years, on July 1st. New Mexico paid PP the full amount on July 1 of the current year. Hint: Use the "Contract Liability" account for any interest that accrues (similar to an interest payable account).

Please list all of the journal entries for 2022 the New Mexico Computing Contract. Your company name is PP. See below information: On July 1st, PP signed a contract with New Mexico PP will provide New Mexico with 525 scooters, for $605 each. New Mexico did not purchase the service agreement. PP will deliver the scooters in 2 years, on July 1st. New Mexico paid PP the full amount on July 1 of the current year. Hint: Use the "Contract Liability" account for any interest that accrues (similar to an interest payable account).

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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