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The goods have an inventory cost on parneviks books of

Question - On March 1, 2017, Parnevik Company sold goods to Goosen Inc. for $660,000 in exchange for a five-year, zero-interest-bearing note in the face amount of $1,062,937. The goods have an inventory cost on Parnevik's books of $400,000. Prepare the journal entries for Parnevik on (b) December 31, 2017.

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Accounting Basics: The goods have an inventory cost on parneviks books of

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