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1.On July 1, 2013, Ross Livermore Industries issued nine month notes in the amount of $400 million. Interest is payable at maturity.Required:Determine the amount of interest expense that should be recorded in a year end adjusting entry under each of the following independentassumptions:
Calculate the total amount of interest expense recorded for the year ended Decmber 31, 2013.
Jones Company acquired Jackson Company for $2,200,000 cash. At that time, the fair value of recorded assets and liabilities was $1,500,000 and $280,000 respectively.
Company sells a single product at $20 per unit. Sales- 100,000, variable costs $800,000, fixed costs $400,000 If a $4 drop in selling price will boost unit sales by 20% the company will experience:
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