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Prepare flint april journal and december adjusting entry

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Question - Flint Corporation obtained a franchise from Sonic Hedgehog Inc. for a cash payment of $96,000 on April 1, 2017. The franchise grants Flint the right to sell certain products and services for a period of 6 years. Prepare Flint's April 1 journal entry and December 31 adjusting entry.

Reference no: EM131661441

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