On November 1, 2018, Green Valley Farm entered into a contract to buy a $150,000 harvester from John Deere. The contract required Green Valley Farm to pay $150,000 in advance on November 1, 2018. The harvester (cost of $110,000) was delivered on November 30, 2018. The journal entry to record the contract on November 1, 2018 includes a Group of answer choices a) credit to Accounts Receivable for $150,000 b) credit to Sales Revenue for $150,000. c) credit to Unearned Sales Revenue for $150,000. d) debit to Unearned Sales Revenue for $150,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On November 1, 2018, Green Valley Farm entered into a contract to buy a $150,000 harvester from John Deere. The contract required Green ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
On September 1, Kennedy Company loaned $128,000, at 12% annual interest, to a customer. Interest and principal will be collected when the loan matures one year from the issue date.
Answers (1)
Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $28,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred.
Answers (1)
Jupiter Explorers has $5,600 in sales. The profit margin is 3 percent. There are 4,000 shares of stock outstanding, with a price of $1.20 per share. What is the company's price-earnings ratio?
Answers (1)
Partner Beth has a basis of $10,000 in a partnership at the beginning of the year. She receives $6,000 in cash distributions, her distributive share of income is $5,000, and she receives a land distribution with a basis of $8,000 (FMV $20,000).
Answers (1)
The method of slicing digital messages into parcels, transmitting them along different communication paths, and reassembling them at their destinations is calledA) multiplexing. B) packet switching. C) packet routing. D) ATM.
Answers (1)
New Questions in Business
Suppose Waterman Cable Company lent $125,000 to Comcast. On December 31, 2015, Comcast paid back the $125,000 and also paid $3,000 interest to Waterman Cable Company. Under U. S.
Answers (1)
A private, not-for-profit hospital received a donation of medicine from the Xengen Pharmaceutical Company on February 13, 20X2. The cost of the medicine to the company was $34,000, and its market value was $76,000.
Answers (1)
What type of saving account is a Christmas Club account
Answers (1)
Swifty Corporation provides security services. Selected transactions for Swifty Corporation are presented below. Oct. 1Issued common stock in exchange for $77,900 cash from investors. 2Hired part-time security consultant.
Answers (1)
Life is what happens to you while you're busy making other plans meaning
Answers (1)