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Question 1 of 7 0.151 On October 1,2025, Wildhorse sold one of its...

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Accounting

Question 1 of 7
0.151
On October 1,2025, Wildhorse sold one of its super deluxe combination gas/charcoal grills to a local builder. The builder plans to install it in one of its "Parade of Homes" houses. Wildhorse accepted a 3-year, zero-interest-bearing note with face amount of $5,484. The grill has an inventory cost of $2,641. An interest rate of 10% is an appropriate market rate of interest for this customer. Prepare the journal entries on October 1,2025, and December 31,2025.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round present value factor calculations to 5 decimal places, e.g.1.25124 and the final answer to 0 decimal places e.g.58,971. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
Date Account Titles and Explanation
Accounts Receivable
(To record sales)
t.1,2025
t.1,2025
3.c.31,2025
Debit
Credit
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