On July 31, 2013, a company purchased equipment for use in the business for $50,000, paying $14,000
Question:
(a) The purchase of the equipment on July 31, 2013
(b) The accrual of the interest at year end, November 30, 2013, assuming interest has not previously been accrued
(c) The repayment of the interest and note on January 31, 2014
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Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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