Adani inc sells goods to geo company for 11000 on january


Adani Inc. sells goods to Geo Company for $11,000 on January 2, 2012, with payment due in 12 months. The fair value of the goods at the date of sale is $10,000. Prepare the journal entry to record this transaction on January 2, 2012. How much total revenue should be recognized on this sale in 2012?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Adani inc sells goods to geo company for 11000 on january
Reference No:- TGS0774078

Expected delivery within 24 Hours