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The subsequent are selected 2012 transactions of Darby Corporation.
1st Sept purchased inventory from Orion Company on account for $54,050. Darby records purchases gross and uses periodic inventory system.
1st Oct Issued a $54,050, 12-month, 8 percent note to Orion in payment of account.
1st Oct Borrowed $82,770 from the Shore Bank by signing a 12-month, zero-interest-bearing $89,010 note.
(a) Create journal entries for selected transactions.
Why would Royal Carpet Cleaning accept credit cards instead of providing credit directly to its customers? In other words, why would Royal be willing to pay 3 percent of sales to have the credit card company handle its sales on account?
q assume tax year-2012net operating lossesassume the subsequent facts2007 taxable income modified 190002008 net
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