On December 1,2019,Pinewood Company sold machinery to a customer for $2,000.Pinewood regularly sells machinery.The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest.Prepare the journal entry to record the revenue at the time of sale.Ignore the entry for cost of goods sold.Omit explanation.

Question

Quizplus · Accepted Answer

The Answer of On December 1,2019,Pinewood Company sold machinery to a customer for $2,000.Pinewood regularly sells machinery.The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest.Prepare the journal entry to record the revenue at the time of sale.Ignore the entry for cost of goods sold.Omit explanation.

On December 1,2019,Pinewood Company Sold Machinery to a Customer for $2,000.Pinewood