Why faital company acquire computer from plato corporation

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Reference no: EM13215569

On December 31, 2014, Faital Company acquired a computer from Plato Corporation by issuing a $640,800 zero-interest-bearing note, payable in full on December 31, 2018. Faital Company's credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to have a 5-year life and a $74,700 salvage value.

Reference no: EM13215569

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