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What entry would lombard make to record the sale

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1. On January 1, 2010, Lombard Co. sells property for which it had paid $690,000 to Sergeant Company, receiving in return Sergeant's zero-interest-bearing note for $1,000,000 payable in 5 years. What entry would Lombard make to record the sale, assuming that Lombard frequently sells similar items of property for a cash sales price of $640,000?

Reference no: EM131110849

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