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Question - On January 2, 20x3, a company sold a large piece of machinery with a list price of $500,000 (held in inventory to a customer) on the following terms: blended annual payments of interest and principal starting December 31, 20x3 and ending on December 31, 20x7. The interest rate charged by the note is 4%.
The company's incremental borrowing rate is 6% and the customer who purchased the equipment's incremental borrowing rate is 8%. The bookkeeper was unsure on how to handle this and credited the December 31, 20x3 payment to Revenue. No entry was made to the Note Receivable account. Prepare the adjusting journal entries required as at December 31, 20x3.
Suppose you borrow $250 from a payday lender for one week at a weekly rate of 10%. How much will you owe by the end of the second week
Write a 700- to 1,050-word essay about investments. Discuss the reasons that corporations invest in securities
fletcher company manufactures and sells one product. the following information pertains to each of the companys first
Determine How many shares of common stock are outstanding? Edwards Enterprises reported the following information at December 31
Emma's Clothes, Inc has accounts receivable of $210,000. In the current economy, she has noticed an increase in uncollectible accounts.
What would the journal entries to record the appropriate payment if the entire invoice is paid on June 18, 2018 and July 8, 2018 look like?
on 1-1-2014 avion inc. sold bonds with these
A company budgeted unit sales of 154000 units for January, 2017 and 160000 units for February 2017. How many units should be produced in January
Warren Brown is the founder of Cake Love. Assume that his company currently has $250,000 in equity, and he is considering a $100,000 expansion.
Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Analyze why each factor is important and the risks of not considering each factor.
Assuming that there were no deposits in transit at the beginning of January, what was the amount of deposits in transit at the end of January
Cash expenditures $11,000 De investment: Salvage value of equipment $2,000 Recovery of working capital 2,000 The investments payback period in years
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