Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

On October 1, 2017, Sage Equipment Company sold a pecan-harvesting machine to Valco Brothers Farm, Inc.

On October 1, 2017, Sage Equipment Company sold a pecan-harvesting machine to Valco Brothers Farm, Inc. In lieu of

a cash payment Valco Brothers Farm gave Arden a 2-year, $113,200, 10% note (a realistic rate of interest for a note of this type). The note required interest to be paid annually on October 1. Sage’s financial statements are prepared on a calendar-year basis.

Assuming Valco Brothers Farm fulfills all the terms of the note, prepare the necessary journal entries for Sage Equipment Company for the entire term of the note. Assume that reversing entries are not made on January 1, 2018 and January 1, 2019.

Date Account Titles and Explanation Debit Credit

Need assignment help for this question?

If you need assistance with writing your essay, we are ready to help you!

OUR PROCESS

Order

Payment

Writing

Delivery

Why Choose Us: Cost-efficiency, Plagiarism free, Money Back Guarantee, On-time Delivery, Total Сonfidentiality, 24/7 Support, 100% originality

10/1/17 no idea about title 196463

196463

12/31/17

10/1/18

12/31/18

10/1/19

 
"Looking for a Similar Assignment? Order now and Get 10% Discount! Use Code "Newclient"