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1.On June 30, 2013, the Esquire Company sold some merchandise to a customer for $30,000. In payment, Esquire agreed to accept a 6% note requiring the payment of interest and principal on March 31, 2014. The 6% 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, 2013 interest accrual, and the March 31, 2014 collection.2. If the December 31 adjusting entry for the interest accrual is not prepared, by how much will income before income taxes be over or understated in 2013 and 2014?
the following information is available to assist you in preparing a bank reconciliation for calico corners on may 31
Describe the basic rule for recognizing expenses and liabilities for medical malpractice claims.
Discuss the objectives for Week Five. How do they relate to the practice of accounting and its uses in business?
roland corporation entered into the following transactions1. on january 1 2014 pear car rental leased a car to roland
If all of the ice stored in Antarctica and Greenland were to melt due to global warming, the World's oceans would rise by approximately 100m (330 ft.). Take a look at a relief map of the globe and briefly describe some of the major consequences..
pacific airlines has three service departments ticketing baggage handling and aircraft maintenance. costs of these
arlandria inc. has bought a new server and is having to decide what to do with the old one. the cost of the old server
Periodic Payment. Assume the same information as in Problem 13.6, except that now the annual payments are to be made at the beginning of the year. What is the periodic payment?
fireout inc. manufactures steel cylinders and nozzles for two models of fire extinguishers 1 a home fire extinguisher
1.a deposit of 350 earns the following interest rates a 8 percent in the first year b 7 percent in the second year and
The measurement date for shares issued to employees in share option plans accounted for using the fair-value method is:
1omega company is considering three capital expenditure projects. relevant data for the projects are as follows.
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