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The only blank Ltd. Sells Merchandh learn Cera y e td...

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Accounting

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Ltd. Sells Merchandh learn Cera y e td sells merchandise on April 1 2017, to Red River Enterprises in return for a 12-month, 9% $13.200 note, with interest due at maturity. The company uses a perpetual inventory system and the cost of the inventory sold was $ 8.448 the journal entries that Ceradyne will record with regard to this note from April 1, 2017, until the note matures on March 31, 2018. (Credit account tities are Ceradyne has a December 31 year end and adjusts its accounts annually. Prepare indented when the amount is entered. Do not indent manually. lf no entry ls required, select "No Entry"for the account titles and enter O for the omounts) Date Account Titles and Explanation Debit Credit Apr. 1.2017 To record sales) 8448 8448 (To record cost of se sold) 891 Dec. 31.2017 Mar. 31,2018 891 297

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