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On October 1 2015, gordon enterprises borrows $150,000 cash from a bank by signing a three year instalment note bearing 10% interest. The note requires equal total payments each year on September 30.
1. Compute the total amount of each instalment payment
2. Complete an amortization table for this instalment note similar to the one in exhibit 14.14.
3. Prepare the journal entries to record (a) accrued interest as of December 31, 2015 (the end of its annual reporting period) and (b) the first annual payment on the note.
Evaluate the regional manager's ethical responsibility in this scenario? Describe and support your position with evidence from the text.
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Hoctor Industries wishes to determine the profitability of its products and asks the cost accountant to make a comparative analysis of sales, cost of sales, and distribution costs of each product for the year. The accountant gathers the following inf..
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