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Question - On October 1, 2016, Watergate Hotels borrowed $400,000 at 12% interest and pledged $500,000 in accounts receivable as collateral. Additionally, Watergate was charged a finance fee equal to 1% of the accounts receivable assigned. At the end of December, $300,000 of the assigned receivables were collected and remitted to the lender along with accrued interest.
Prepare Journal Entries to record the borrowing, the assignment of receivables, the collection on the receivables, and the recognition of interest expense.
schefter mining operates a copper mine in wyoming. acquisition exploration and development costs totaled 8.2 million.
West Side's Pizza bought a used Toyota delivery van on January 2, 2014, for $22,000. Make a schedule of depreciation expense per year for the van
Suppose the hospital has a foundation that supports the operations of the hospital. How does that change your response to Ms. Thomas
nanner corporation is trying to determine how long it takes for one product to pass through the production process. the
What level of sales dollars is needed for a monthly orofit of $61.500 and the marina anticipates sales of $1,049,000. What is the expected level of profit?
Plum never paid any dividends. Can plum deduct any or all of the "salaries" paid to John and Jean
Define cash and cash equivalents and indicate the types of items that should be reported as cash and cash equivalents.
dent corporation had net income of 182000 based on variable costing. beginning and ending inventories were 5000 units
Question - Depreciation methods. Calculate depreciation expense for the machine's first two years using the straight-line, reducing-balance
What adjustment does a corporation make if ACE is more than preadjustment AMTI
if you were called before congress this week what would be your response to the committee concerning the current income
flavor corporationpartial balance sheet as at december 31 2009 millionsstockholders equitycommon stock 1.00 par
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