Record each transaction in a journal entry. Explanations are not required. Made payment on account to Long Appliance Manufacturers, $300,000.Sold appliances for cash to Home Builders for $350,000 (cost, $175,000).Received payment in full on the maturity date from Down Contracting for the note.m.O.р.q.Sold appliances to Lowell Contracting for $265,000 (cost, $130,000), receiving a9-month, 8% note.r.Made payment on account to Long Appliance Manufacturers, $500,000.Sold appliances on account to various businesses for $985,000, terms n/30 (cost,$395,000).S.

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Description: Record each transaction in a journal entry. Explanations are not required. Made payment on account to Long Appliance Manufacturers, $300,000.Sold appliances for cash to Home Builders for $350,000 (cost, $175,000).Received payment in full on the matur

Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Business

Accounting

Made payment on account to Long Appliance Manufacturers, $300,000. O. m. Sold appliances for cash to Home Builders for $350,000 (cost, $175,000). Received payment in full on the maturity date from Down Contracting for the note. q. р. Sold appliances to Lowell Contracting for $265,000 (cost, $130,000), receiving a 9-month, 8% note. r. Made payment on account to Long Appliance Manufacturers, $500,000. S. Sold appliances on account to various businesses for $985,000, terms n/30 (cost, $395,000).

Made payment on account to Long Appliance Manufacturers, $300,000. O. m. Sold appliances for cash to Home Builders for $350,000 (cost, $175,000). Received payment in full on the maturity date from Down Contracting for the note. q. р. Sold appliances to Lowell Contracting for $265,000 (cost, $130,000), receiving a 9-month, 8% note. r. Made payment on account to Long Appliance Manufacturers, $500,000. S. Sold appliances on account to various businesses for $985,000, terms n/30 (cost, $395,000).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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