Bygone Company manufactures and sells computers. On January 1, 2021, the entity sold a computer costing P400,000 for P600,000. The buyer signed a noninterest bearing note for P600,000 payable in three equal installments every December 31. The cash selling price of the computer is P540,000. Required:Prepare journal entries for the current year.

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Q: The following transactions transpired during the year for Teresa Company: • On January 1,2021,…

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Q: Everdeen Company sells computers for P20,000 eachand also gives each customer a 3-year warranty that…

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Q: On May 1, 2020, People's Networks sold computer networking supplies to Florida Autos for $46,300.…

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A: Hi student Since there are multiple questions, we will answer only first question.

Q: On January 1, 2021, Gundy Enterprises purchases an office building for $261,000, paying $51,000 down…

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Q: On October 1, 2021, Chrysanthemum Co. purchased equipment by issuing a four-year, 9% promissory note…

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A: The question is based on the concept of business accounting.

Q: The following transactions transpired during the year for Teresa Company: • On January 1,2021,…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given, then first question is to be…

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A:

Q: Kikiam Company sells televisions at an average price of P19,000 and also offers to each customer a…

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A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

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Q: Early in 2020, Pina Equipment Company sold 400 Rollomatics at $ 6,000 each. During 2020, Pina spent…

A: The journal entries are prepared to keep the record of day to day transactions of the business.