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ser-zykov [4K]
3 years ago
11

On 20/07/2019, "ABC" Company sold goods to customer "X" with a total value of $120.000 The customer pad

Business
1 answer:
shepuryov [24]3 years ago
4 0

Answer:

1) total sales revenue = $120,000

this amount holds regardless of how much money was collected in cash or if an account/note receivable was recorded

2) the company must recognize interest revenue:

principal = $72,000

interest revenue = $72,000 x 10% x 40/360 days = $800

Dr Interest receivable 8000

    Cr Interest revenue 800

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