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a) On June 30, 2011, the Esquire Company sold some merchandise to a customer for $30,000 and agreed to accept as payment a non interest-bearing note with an 8% discount rate requiring the payment of $30,000 on March 31, 2012. The 8% rate is appropriate in this situation.
Required:
1. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold), the December 31, 2011 interest accrual, and the March 31, 2012 collection.
2. What is the effective interest rate on the note?
The commissioners for Walker County are actively negotiating with Falcon Industries regarding the location of a new manufacturing plant in the area. As Falcon is considering several other sites, a "generous tax holiday" may be needed to influence ..
a basic usage of the two different qualities named a and b which are to be used weekly as their normal usage is
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Cost Relationships; Normal Costing System - cherry Hill Glass Company employs a normal costing system.
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