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QUESTION
Should we or if any what should be the jounal entry Cottonwood should record for following transaction:
Should we or if any what should be the jounal entry Cottonwood should record for following transaction:-Cottonwood received an order from the Del Norte County Rodeo in Trinity, CA for $18,000 of resale merchandise. This is a new rodeo with no credit history. Cottonwood has requested payment in full prior to the delivery of goods. The cost of the goods ordered is $10,440.
Should we or if any what should be the jounal entry Cottonwood should record for followingtransaction:Cottonwood received an order from the Del Norte County Rodeo in Trinity, CA for $18,000 of...