Answered You can hire a professional tutor to get the answer.
QUESTION
On June 1, 2009, the Luttman and Dowd Company sold inventory to the Ushman Corporation for $400,000.
On June 1, 2009, the Luttman and Dowd Company sold inventory to the Ushman Corporation for $400,000. Terms of the sale called for a down payment of $100,000 and four annual installments of $75,000 due on each June 1, beginning June 1, 2010. Each installment also will include interest on the unpaid balance applying an appropriate interest rate. The inventory cost Foster $150,000. The company uses the perpetual inventory system.Required:1.
