On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. 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. Please provide the accrual entry needed at December 31, 2013.

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The Answer of On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. 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. Please provide the accrual entry needed at December 31, 2013.

On December 1, 2013, Parsons Sales Sold Machinery to a Customer