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On jan 1, 2006 alan king decided to deposing $58,800 in a savings accout that will provide funds four years later to send hisson to college. the savings account will earn 8%, which will be added to the fund each year end
a) how much will be available in four years?
b) give journal entry that alan should make on jan. 1,2006
c) what is the interest for the four years?
d) give the journal entry that alan should make on a0 dec.31,2006 and b) dec 31, 2007
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