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On October 1, 2013, Gordon Enterprises borrows $ 150,000 cash from a bank by signing a three year installment note bearing 10% interest. The note requires equal total payments each year on September 30.
Required:
1. Compute the total amount of each installment payment.
2. Complete an amortization table for this installment note similar to the one in Exhibit.
3. Prepare the journal entries to record (a) Accrued interest as of December 31, 2013 (the end of its annual reporting period) (b) The first annual payment on the note.
Monica (not in the loan business) loaned Lateisha $25,000 two years ago. During the current year, Lateisha declared bankruptcy.
a. What were QuickyLube's labor price and quantity variances for the most recent week? b. What factor(S) could explain QuickyLube's labor variances?
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techuxia corporation worked on four jobs during october job a256 job a257 job a258 and job a260. at the end of october
Vincent's gifts for the year before considering the annual gift tax exclusion total
x company a merchandiser prepares annual financial statements. during the year the company had the following
assume the facts in the preceding exercise except that zeile company has chosen not to accrue paid sick leave until
Harding Corporation has the following accounts included in its December 31, 2012, trial balance: Accounts Receivable $110,000; Inventory $290,000; Allowance for Doubtful Accounts $8,000; Patents $72,000; Prepaid Insurance $9,500; Accounts Payable ..
On January 1, 2010, the Fastor Company had a retained earnings balance of $218,600. It is subject to a 30% corporate income tax rate. During 2010, the company earned net income of $67,000, and the following events occurred:
Research a U.S.-based company that manufactures technology products
Determine the due date of the note and determine the maturity value of the note - Journalize the entry to record the receipt of the payment of the note at maturity.
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