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On December 1, 2015, Parsons Inc

question 112

Essay

On December 1, 2015, Parsons Inc. sold machinery to a customer for $2,000. Parsons regularly sells machinery. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 12% interest. Give journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold.

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Definitions:

Deviance

Behaviors or actions that violate societal norms, and which may attract social disapproval or sanction.

Power

The power to control or shape the actions of others and steer the direction of events.

Type of Deviance

Categorizations within deviant behavior that contrast with societal norms, including criminal and non-criminal acts.

Quinney's Social Reality Theory

A criminological theory suggesting that the definition of crime is created by those in power, reflecting and reinforcing existing social inequalities.

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