Rodriguez Company issues a 10%, 6-year mortgage note on January 1, 2011, to obtain financing for new
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Rodriguez Company issues a 10%, 6-year mortgage note on January 1, 2011, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $56,413.What were the cash proceeds received from the issuance of the note?
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Discount rate from Table 4 is 886325 Present value of 12 payments of ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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