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Amazing Company acquires a trade name from Fantastic Ltd. Amazing estimates it will receive $7,200 per year from the name over the next 9 years. Using a discount rate of 4%, what is the present value in use to Amazing of this trade name? (Hint: use tables on pages 784-787, or financial calculator with PV function)
a) $45,528
b) $58,398
c) $53,534
d) $55,676
The entry to record cash received from a customer in advance of performing the services has what effect on the financial statements? The entry to record cash received from a customer in advance of performing the services has what effect on the financ..
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