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Headland Corporation owns equipment that cost $109,000 and has a useful life of 10 years with no salvage value. On January 1, 2017, Headland leases the equipment to Donna Havaci Inc. for one year with one rental payment of $13,600 on January 1.
Problem 1: Make Headland Corporation's 2017 journal entries
Suppose you started up your own landscaping business. A costumer paid you $170 in advance to mow his or her lawn while he or she was on vacation. Prepare the journal entries to record the three transactions.
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Intermediate accounting 8th edition On October 1, Eder Fabrication borrowed $70 million and issued a nine-month, 6% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjustin..
Infinity Designs, an interior design company, has experienced a drop in business due to an increase in interest rates and a corresponding slowdown in remodeling projects. To stimulate business, the company is considering exhibiting at the Home and Ga..
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