Wudchuk Corp. purchased inventory in exchange for a $ 15,000 three-month short-term non-interest-bearing note. The note is
Fantastic news! We've Found the answer you've been seeking!
Question:
Wudchuk Corp. purchased inventory in exchange for a $ 15,000 three-month short-term non-interest-bearing note. The note is to be discounted at 8 percent. What is the amount recorded for Inventory in Wudchuk's books?
A. $ 15,000
B. $ 13,800
C. $ 14,700
D. $ 15,300
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: