Solved: What entry would lombard make to record the sale assuming, Accounting Basics

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What entry would lombard make to record the sale assuming

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?

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Accounting Basics: What entry would lombard make to record the sale assuming

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