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On the first day of the fiscal year, Hawthorne Company obtained a $ 88,000, seven-year, 5% installment note from Sea Side Bank. The note requires annual payments of $15,208, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $4,400 and principal repayment of $10,808. The journal entry Hawthorne would record to make the first annual payment due on the note would include:
a. a debit to Cash of $15,208
b. a credit to Notes Payable for $10,808
c. a debit to Interest Expense for $4,400
d. a debit to Notes Payable for $15,208
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Using information from the latest financial statement, compute operating leverage, ROI, EVA and another performance measure for SIRI (SiriusXM)
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Johnsons Construction is considering an investment in equipment costing $660,000. The equipment will be depreciated on the straight-line basis over an 8 year period with an estimated residual value of $120,000.
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