Sanchez Co. uses an interest rate of 6%, which is its incremental borrowing rate. Instructions (a) Prepare
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Instructions
(a) Prepare the journal entries necessary on January 2, 2014, and December 31, 2014.
(b) Prepare the journal entries necessary on December 31, 2015.
(c) Prepare the journal entries necessary on January 2, 2016.
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Related Book For 
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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