Sutherland corporation sold goods to rice decorators for, Financial Accounting

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Sutherland corporation sold goods to rice decorators for

Sutherland Corporation sold goods to Rice Decorators for $75,000 on September 1, 2017, accepting Rice’s $75,000, 6-month, 6% note. Prepare Sutherland’s September 1 entry, December 31, annual adjusting entry, and March 1 entry for the collection of the note and interest.

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