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Prepare the journal entries for swifty on march

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On March 1, 2020, Swifty Company sold goods to Goosen Inc. for $606,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,021,145 (an inputed rate of 11%). The goods have an inventory cost on Swifty's books of $434,000.

Problem (a) Prepare the journal entries for Swifty on March 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Reference no: EM132683785

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