Give me answer within 45 min please I will give you upvote immediately its very urgent .....thankyou... Slaughter & Son sold a Deluxe Funeral Package to a customer (who had not been feeling1/1/2021well lately) in exchange for a zero interest bearing note with a face value of $6,000 withpayment due in 12 months.Fair value of the funeral package at the date of sale5,500Cost of funeral package4,200Prepare the journal entries for Slaughter and Sons for 2021 and 2022

Slaughter & Son sold a funeral package to a customer in exchange of a zero interest bearing note…

Answered: Prepare the journal entries for…

Business

Accounting

Prepare the journal entries for Slaughter and Sons for 2021 and 2022

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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Question

Give me answer within 45 min please I will give you upvote immediately its very urgent .....thankyou...

Slaughter & Son sold a Deluxe Funeral Package to a customer (who had not been feeling
1/1/2021
well lately) in exchange for a zero interest bearing note with a face value of $6,000 with
payment due in 12 months.
Fair value of the funeral package at the date of sale
5,500
Cost of funeral package
4,200
Prepare the journal entries for Slaughter and Sons for 2021 and 2022

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