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Prepare journal entries to record the sale of the land

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On October 1, Bandor Company sold land (that cost $30,000) on credit for $35,000. The buyer issued an 8%, 12 month note for this amount, with the interest to be paid on the maturity date. 

Prepare journal entries to record the sale of the land and the related year end adjusting entry.

Reference no: EM13875154

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