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Jennifer Company purchases equipment by issuing a 7 year, $350,000 non-interest bearing note, when the market rate for this type of note is 10%. Jennifer will pay off the note by an equal amount at the end of each year.
Prepare the journal entry to record Jennifer Company's acquisition of the equipment.
Lennon was achieved by this acquisition. Lennon distributed a dividend of $2.50 per share during 2009 and reported net income of $670,000. What was the balance in the Investment in Lennon Co. account found in the financial records of Pacer as of D..
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