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Question: On August 1, 2012, Trico Technologies, an aeronautic electronics company, borrows $20 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 8% promissory note. Interest is payable at maturity. FirstBanc Corp.'s year-end is December 31.
Required: 1. Record the acceptance of the note by FirstBanc Corp.
2. Record the appropriate adjustment for the note by FirstBanc Corp., on December 31, 2012.
3. Record the receipt of cash by FirstBanc Corp. at maturity.
What does it mean for a company to "thin" its inventories? How would such a business practice aid a company during an economic recession?
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q1. since 1 august 2005 adam smiths investment policy has been to lodge fixed term deposits at his local bank. the
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the nominal rate of discount is 3 convertible quarterly. the annual inflation-adjusted effec- tive rate of interest is
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Summarize and describe each revenue source and which fund the source should fall under or be tracked in. Additionally, address the following: Importance of informed financial decisions
Treadway Company issued bonds with a face value of $20,000 on January 1, 2011. The bonds were due to mature in five years and had a stated annual interest rate of 8 percent. The bonds were issued at face value. Interest is paid semiannually.
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