On July 1, 2014, Ellsbury Inc. entered into a contract to deliver one of its specialty machines to Kickapoo Landscaping Co. The contract requires Kickapoo to pay the contract price of $2,500 in advance on July 15, 2014. Kickapoo pays Ellsbury on July 15, 2014, and Ellsbury delivers the machine (with cost of $1,600) on July 31, 2014. Instructionsa. Prepare the journal entry on July 1, 2014, for Ellsbury. b. Prepare the journal entry on July 15, 2014, for Ellsbury. c. Prepare the journal entry on July 31, 2014, for Ellsbury.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On July 1, 2014, Ellsbury Inc. entered into a contract to deliver one of its specialty machines to Kickapoo Landscaping Co. The contract ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
How does the existence of substitutes affect the price elasticity of demand?
Answers (1)
Two primary causes of computer-related health problems are a poorly designed work environment and failure to take regular breaks to stretch the muscles and rest the eyes. True? orFalse?
Answers (1)
Project managers used to be common only in the field of ___ technology
Answers (1)
The price of producing a $4 chocolate bar goes up, so the seller of the chocolate bar raises the price to $5. A student describes the effect on the demand for the chocolate, saying, "Since the price goes up, the quantity demanded will go up.
Answers (1)
Which of the following is the essential purpose of the external audit function? a) Determination of whether the client's financial statement assertions are fairly stated in accordance with GAAP.
Answers (1)
New Questions in Business
The formula for cost of goods manufactured is?
Answers (1)
Athleisure, Inc. sells athletic gear by sending customers a catalog nine times a year. The company has no retail stores or website, but offers a toll-free order number that operates 24 hours a day, 365 days a year. Athleisure, Inc.
Answers (1)
Marcia, owner of drapes by design, has groups of employees in production and installation. if she decides to use work teams as part of her leadership approach, she may be able to:
Answers (1)
Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and
Answers (1)
What is the difference between marginal cost and marginal revenue? Marginal cost is the money earned from selling one more unit of a good.
Answers (1)