On October 1, 2019, Alharam sold and delivered 3 doors to a builder for $40,000. The builder plans to install it in one of its “Parade of Homes” houses. Alharam accepted a 5-year, zerointerest bearing note with face amount of $53,240. The doors have cost of $25,500. An interest rate of 10% is an appropriate market rate of interest for this customer. What's the entries of this transaction and i wana explain of the entries

On October 1, 2019, Alharam sold and delivered 3 doors to a builder for $40,000. The builder plans to install it in one of its “Parade of Homes” houses. Alharam accepted a 5-year, zerointerest bearing note with face amount of $53,240. The doors have cost of $25,500. An interest rate of 10% is an appropriate market rate of interest for this customer. What's the entries of this transaction and i wana explain of the entries

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter5: Business Deductions

Section: Chapter Questions

Problem 45P

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