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Selkirk Company obtained a $15,000 note receivable from a customer on January 1, 2013. The note, along with interest at 10%, is due on July 1, 2013. On February 28, 2013, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 12%. Required: Prepare the journal entries required on February 28, 2013, to accrue interest and to record the discounting for Selkirk. Assume that the discounting is accounted for as a sale.
What was Topps inventory turnover ratio and average days to seel inventory for 2006 and 2005?
kiser company reports the following for the month of june.date explanation units unit cost total costjune 1 inventory
in 2010 music inc. purchased popstar music for 3 million. at december 31 2011 the popstar music division reported net
switzer inc. has 8 computers which have been part of the inventory for over two years. each computer cost 600 and
on january 1 2012 loop raceway issued 600 bonds each with a face value of 1000 a stated interest rate of 5 paid
How much can Nick deduct if he is not covered by an employer-sponsored qualified retirement plan - how much can Nick deduct if he is covered by an employer-sponsored qualified retirement plan?
beach realty rents a factory building for 20 years at an annual rental rate of 42000 beginning june 1 2004. the lease
Prepare the journal entry on July 1, 2010, for SEK Corp. to record the sale of receivables without recourse. Prepare the journal entry on July 1, 2010, for Mays Finance Corporation to record the purchase of receivables without recourse.
the southeastern companys manufacturing costs for the third quarter of 2008 were as follows dl amp dm 700000 other
Blackstone Inc is a non-assurance client of our firm. On February 14,2011,the board of directors of Blackstone Inc. authorized the disposition of its existing corporate jet and the acquisition of a new state-of-the-art corporate jet.
The individual accounting records
The company uses the effective interest method to account for this debt.
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