Marino marine equipment sol several pieces of inventory to

Reference no: EM13601052

On February 1, Marino Marine Equipment sol several pieces of inventory to Soderberg sails for $7,000, by Soderberg signing a five month (12% annual interest rate) note, accrued monthly but all payable by June 30. Record on Marino's books the entry on June 30 the recognizes Soderberg's payment satisfying the note receivable.

Reference no: EM13601052

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