On December 1, 2015, Parsons Inc. sold machinery to a customer for $2,000. Parsons 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. Give journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold.

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The Answer of On December 1, 2015, Parsons Inc. sold machinery to a customer for $2,000. Parsons 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. Give journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold.