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TUT Current Attempt in Progress During December, Wildhorse Appce Company sold appliances to Novak Company...

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Accounting

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TUT Current Attempt in Progress During December, Wildhorse Appce Company sold appliances to Novak Company for $24,810. Wildhorse is unable to determine Novak's ability to pay the amount owing Novak pays the full amount due in February of the following year. Wildhorse uses the earning proach to revue recognition Identify the critical event that will trimer revenue recognition Prepare the journal entry to record the shipment of goods to Novak. The goods cost Wildhorse $19,690 and Wildhorse uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. I no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Tides and Explanation Debit Credit To record deferred gross profit e Textbook and Media List of Accounts Sebola Attempts of 3 used Submit An

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