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Part 1
1 What is the break-even point (BEP) and why is it important?
2 What is the Contribution Margin (CM) and why is it important?
Attachment:- Full_requirmeent.xlsx
On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannualy were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:
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