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On January 1, Y3; Aylmer Inc sold some merchandise to London Inc for $600,000 London has poor credit and signed a two-year, zero-interest bearing note. The market rate is 8% REQUIRED: Prepare ALL the necessary entries for Aylmer Inc for Y3 and Y4 (show all of your work)

On January 1, Y3; Aylmer Inc sold some merchandise to London Inc for $600,000 London has poor credit and signed a two-year, zero-interest bearing note. The market rate is 8% REQUIRED: Prepare ALL the necessary entries for Aylmer Inc for Y3 and Y4 (show all of your work)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Looking for answer. Please include all the calculations for my reference. Thanks in advance. 

(Variaous Receivable Items - Independent situation)

Situation #2 On January 1, Y3; Aylmer Inc sold some merchandise to London Inc for $600,000 London has poor credit and signed a two-year, zero-interest bearing note. The market rate is 8% REQUIRED: Prepare ALL the necessary entries for Aylmer Inc for Y3 and Y4 (show all of your work)
Transcribed Image Text:Situation #2 On January 1, Y3; Aylmer Inc sold some merchandise to London Inc for $600,000 London has poor credit and signed a two-year, zero-interest bearing note. The market rate is 8% REQUIRED: Prepare ALL the necessary entries for Aylmer Inc for Y3 and Y4 (show all of your work)
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