On October 31, 2017, Cool Company sells a truck that originally cost 140,000 $ for 95,000$...

On October 31, 2017, Cool Company sells a truck that originally cost 140,000 $ for 95,000$ cash. The truck was placed in service on January 1, 2012. It was depreciated using the straight-line method with an estimated salvage value of 28,000 and a useful life of 10 years. Record all the transaction. On July 19, 2018, Cool Co. purchased a machine for 260,000 SA from Saudi Machine Company (SMC). Omar gave SMC 7% note due in 120 days in payment for the machine. What is the maturity date of the note? How much interest will Omar pay to SMC on this note? Record the note? On October 16, 2018, Cool informs us that the company is unable to pay the note or interest?

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ekkarill92 answered 3 months ago

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