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Prepare the journal entries for coronado on december

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Reference no: EM132558294

On March 1, 2017, Coronado Company sold goods to Goosen Inc. for $714,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,203,132 (an input rate of 11%). The goods have an inventory cost on Coronado's books of $424,000.

Question (a) Prepare the journal entries for Coronado on March 1, 2017.

Question (b) Prepare the journal entries for Coronado on December 31, 2017.

Reference no: EM132558294

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