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Adelaide Briton Ltd issued a prospectus on 1 June 20X1 inviting applicants for 3,000 debentures of face amount $2,000, payable in full on application. Terms were 12% p.a. interest, payable annually, with a maturity date of 30 June 20X4. Exactly the right amount of applications were received by 30 June 20X1.
Question a) Prepare general journal entries to record the issue of debentures.
Question b) Prepare general journal entries to record the payments of interest and the repayment of principal.
Question c) Prepare ledger entries to record (a) and (b) above.
On 1/1/2019, a firm had a beginning cash balance of $290. December/2018 sales were $490. What is the firms beginning cash balance on February
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On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80 million. The following additional facts pertain to the transaction: Suppose that the Footwear Division's assets had not been sold by December 31, 2006, ..
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Records from previous years indicate an average bridge repair costwas $35,003. Use the sample data to test that the 1993 mean µ isgreater than $35,003.
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