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intermediate accounting reporting
Intermediate Accounting 18th Edition Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield - Solutions
Durler Company purchased equipment on January 2, 2021, for $112,000. The equipment had an estimated useful life of 5 years with an estimated salvage value of $12,000. Durler uses straight-line depreciation on all assets. On January 2, 2025, Durler exchanged this equipment plus $12,000 in cash for
Schultz Department Store determines it will cost $100,000 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Schultz estimates the fair value of the obligation at December 31, 2025, is $84,000. Prepare the journal
Mickelson Inc. owns land that it purchased on January 1, 2005, for $450,000. At December 31, 2025, its current value is $770,000 as determined by appraisal. At what amount should Mickelson report this asset on its December 31, 2025, balance sheet? Explain.
Spitfire Company was incorporated on January 2, 2025, but was unable to begin manufacturing activities until July 1, 2025, because new factory facilities were not completed until that date.The Land and Buildings account reported the following items during 2025.The following additional information
Grieg Landscaping began construction of a new plant on December 1, 2025. On this date, the company purchased a parcel of land for $139,000 in cash. In addition, it paid $2,000 in surveying costs and $4,000 for a title insurance policy. An old dwelling on the premises was demolished at a cost of
On January 1, 2025, Blair Corporation purchased for $500,000 a tract of land (site number 101) with a building. Blair paid a real estate broker’s commission of $36,000, legal fees of $6,000, and title guarantee insurance of $18,000. The closing statement indicated that the land value was $500,000
Laserwords Inc. is a book distributor that had been operating in its original facility since 1995. The increase in certification programs and continuing education requirements in several professions has contributed to an annual growth rate of 15% for Laserwords since 2020. Laserwords’ original
Klamath Company, a manufacturer of ballet shoes, is experiencing a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its product, the company recently made several acquisitions of plant and equipment. Rob Joffrey, newly hired in the position
Harrisburg Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,000,000 on January 1, 2025. Harrisburg expected to complete the building by December 31, 2025. Harrisburg has the following debt obligations outstanding during
On December 31, 2024, Main Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2025, the company made the following expenditures related to this building: March 1, $360,000; June 1, $600,000; July 1, $1,500,000; December 1, $1,500,000. The building was
Calaf’s Drillers erects and places into service an off-shore oil platform on January 1, 2025, at a cost of $10,000,000. Calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years, which the company is legally required to do. (The fair
Worf Co. both purchases and constructs various equipment it uses in its operations. The following items for two different types of equipment were recorded in random order during the calendar year 2025.InstructionsCompute the total cost for each of these two pieces of equipment. If an item is not
The following transactions occurred during 2025. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no
Kelly Clarkson Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2025. The terms of acquisition for each truck are described below.1. Truck #1 has a list price of $15,000 and is acquired for a cash payment of
A depreciation schedule for semi-trucks of Ichiro Manufacturing Company was requested by your auditor soon after December 31, 2026, showing the additions, retirements, depreciation, and other data affecting the income of the company in the 4-year period 2023 to 2026, inclusive. The following data
Oil Products Company purchases an oil tanker depot on January 1, 2025, at a cost of $600,000. Oil Products expects to operate the depot for 10 years, at which time it is legally required to dismantle the depot and remove the underground storage tanks. The company estimates the dismantle and removal
On July 31, 2025, Amsterdam Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction began immediately and was completed on November 1, 2025. To help finance construction, on July 31 Amsterdam issued a $300,000, 3-year, 12% note payable at
On December 31, 2025, Tritt Inc. has a machine with a book value of $940,000. The original cost and related accumulated depreciation at this date are as follows.Depreciation is computed at $60,000 per year on a straight-line basis.InstructionsPresented below is a set of independent situations. For
The following three situations involve the capitalization of interest. Situation I: On January 1, 2025, Ohno, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $4,000,000. It was estimated that it would take 3 years to complete the project.
Flint Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2025, to expand its production capacity to meet customers’ demand for its product. Flint issues an $800,000, 5-year, zero-interest-bearing note to Central Michigan for the new equipment when the prevailing
Alladin Company purchased Machine #201 on May 1, 2025. The following information relating to Machine #201 was gathered at the end of May.It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Alladin intends to use the machine for only 8 years,
Cardinals Corporation purchased a computer on December 31, 2024, for $105,000, paying $30,000 down and agreeing to pay the balance in five equal installments of $15,000 payable each December 31 beginning in 2025. An assumed interest rate of 10% is implicit in the purchase price.Instructions(Round
Ottawa Corporation owns machinery that cost $20,000 when purchased on July 1, 2021. Depreciation has been recorded at a rate of $2,400 per year, resulting in a balance in accumulated depreciation of $8,400 at December 31, 2025. The machinery is sold on September 1, 2026, for $10,500. Prepare
Crowe Company purchased a heavy-duty truck on July 1, 2021, for $30,000. It was estimated that it would have a useful life of 10 years and then would have a trade-in value of $6,000. The company uses the straight-line method. It was traded on August 1, 2026, for a similar truck costing $42,000;
Burnitz Manufacturing Company was organized on January 1, 2025. During 2025, it has used in its internal reports the straight-line method of depreciating its plant assets.On November 8, you are having a conference with Burnitz’s officers to discuss the depreciation method to be used for income
On April 1, 2025, Estefan Company received a condemnation award of $430,000 cash as compensation for the forced sale of the company’s land and building, which stood in the path of a new state highway. The land and building cost $60,000 and $280,000, respectively, when they were acquired. At April
The cost of equipment purchased by Charleston, Inc., on June 1, 2025, is $89,000. It is estimated that the machine will have a $5,000 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is
Fernandez Corporation purchased a truck at the beginning of 2025 for $50,000. The truck is estimated to have a salvage value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2025 and 31,000 miles in 2026. Compute depreciation expense using the units-of-production method
The following data relate to the Machinery account of Eshkol, Inc. at December 31, 2025.*In the year an asset is purchased, Eshkol, Inc. does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Eshkol, Inc. takes a full year’s depreciation on the
Lockard Company purchased machinery on January 1, 2025, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. (a) Compute 2025 depreciation expense using the straight-line method. (b) Compute 2025 depreciation expense using the
Judds Company purchased a new plant asset on April 1, 2025, at a cost of $711,000. It was estimated to have a service life of 20 years and a salvage value of $60,000. Judds’ accounting period is the calendar year.Instructionsa. Compute the depreciation for this asset for 2025 and 2026 using the
Electroboy Enterprises, Inc. operates several stores throughout the western United States. As part of an operational and financial reporting review in a response to a downturn in its markets, the company’s management has decided to perform an impairment test on five stores (combined). The five
The following are three different and unrelated situations involving depreciation accounting. Answer the question(s) at the end of each situation.Situation I: Recently, Broderick Company experienced a strike that affected a number of its operating plants. The controller of this company
Muggsy Bogues Company purchased equipment for $212,000 on October 1, 2025. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2025, Bogues uses the equipment for
Jon Seceda Furnace Corp. purchased machinery for $315,000 on May 1, 2025. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and working hours of 25,000. During 2026, Seceda Corp. uses the machinery for 2,650 hours, and the machinery
Bronson Paper Products purchased 10,000 acres of forested timberland in March 2025. The company paid $1,700 per acre for this land, which was above the $800 per acre most farmers were paying for cleared land. During April, May, June, and July 2025, Bronson cut enough timber to build roads using
As a cost accountant for San Francisco Cannery, you have been approached by Phil Perriman, canning room supervisor, about the 2025 costs charged to his department. In particular, he is concerned about the line item “depreciation.” Perriman is very proud of the excellent condition of his canning
Darby Sporting Goods Inc. has been experiencing growth in the demand for its products over the last several years. The last two Olympic Games greatly increased the popularity of basketball around the world. As a result, a European sports retailing consortium entered into an agreement with Darby’s
Cominsky Company purchased a machine on July 1, 2026, for $28,000. Cominsky paid $200 in title fees and county property tax of $125 on the machine. In addition, Cominsky paid $500 shipping charges for delivery, and $475 was paid to a local contractor to build and wire a platform for the machine on
Conan O’Brien Logging and Lumber Company owns 3,000 acres of timberland on the north side of Mount Leno, which was purchased in 2013 at a cost of $550 per acre. In 2025, O’Brien began selectively logging this timber tract. In May 2025, Mount Leno erupted, burying the timberland of O’Brien
George Zidek Corporation bought a machine on June 1, 2023, for $31,000, f.o.b. the place of manufacture. Freight to the point where it was set up was $200, and $500 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $2,500. On June 1, 2024, an
Workman Company purchased a machine on January 2, 2025, for $800,000. The machine has an estimated useful life of 5 years and a salvage value of $100,000. Depreciation was computed by the 150% declining-balance method. What is the amount of accumulated depreciation at the end of December 31, 2026?
Holt Company purchased a computer for $8,000 on January 1, 2024. Straight line depreciation is used, based on a 5-year life and a $1,000 salvage value. In 2026, the estimates are revised. Holt now feels the computer will be used until December 31, 2027, when it can be sold for $500. Compute the
Silverman Company purchased machinery for $162,000 on January 1, 2025. It is estimated that the machinery will have a useful life of 20 years, salvage value of $15,000, production of 84,000 units, and working hours of 42,000. During 2025, the company uses the machinery for 14,300 hours, and the
Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2024 for $10,000,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2025, new technology was introduced that would accelerate the obsolescence of
Bill Jovi is reviewing the cash accounting for Nottleman, Inc., a local mailing service. Jovi’s review will focus on the petty cash account and the bank reconciliation for the month ended May 31, 2025. He has collected the following information from Nottleman’s bookkeeper for this task.Petty
Briefly describe the process for recording bad debt expense under the allowance method.
In each of the following independent cases, the company closes its books on December 31.1. Sanford Co. sells $500,000 of 10% bonds on March 1, 2025. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2028. The bonds yield 12%. Give entries through December
Venezuela Co. is building a new hockey arena at a cost of $2,500,000. It received a downpayment of $500,000 from local businesses to support the project, and now needs to borrow $2,000,000 to complete the project. It therefore decides to issue $2,000,000 of 10.5%, 10-year bonds. These bonds were
On January 1, 2025, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a maturity value of $1,000,000 and pay interest semiannually on January 1 and July 1. The following are three presentations of the long-term liability section of the balance sheet that might be used for these
Presented below are two independent situations.1. On January 1, 2025, Simon Company issued $200,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1.2. On June 1, 2025, Garfunkel Company issued $100,000 of 12%, 10-year bonds dated January 1 at
The Colson Company issued $300,000 of 10% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson’s journal entries for (a) The January issuance, (b) The July 1 interest payment,
Presented below are various account balances of K.D. Lang Inc.a. Unamortized premium on bonds payable, of which $3,000 will be amortized during the next year.b. Bank loans payable of a winery, due March 10, 2029. (The product requires aging for 5 years before sale.)c. Serial bonds payable,
Good-Deal Inc. developed a new sales gimmick to help sell its inventory of new automobiles. Because many new car buyers need financing, Good-Deal offered a low downpayment and low car payments for the first year after purchase. It believes that this promotion will bring in some new buyers.On
The following information is taken from the 2025 annual report of Bugant, Inc. Bugant’s fiscal year ends December 31 of each year. Bugant’s December 31, 2025, balance sheet is as follows.Note X: Long Term Debt:On January 1, 2024, Bugant issued bonds with face value of $1,500 and a coupon rate
On March 1, 2025, Sealy Company sold its 5-year, $1,000 face value, 9% bonds dated March 1, 2025, at an effective annual interest rate (yield) of 11%. Interest is payable semiannually, and the first interest payment date is September 1, 2025. Sealy uses the effective-interest method of
Crocker Corp. owes D. Yaeger Corp. a 10-year, 10% note in the amount of $330,000 plus $33,000 of accrued interest. The note is due today, December 31, 2025. Because Crocker Corp. is in financial trouble, D. Yaeger Corp. agrees to forgive the accrued interest, $30,000 of the principal, and to extend
On April 1, 2025, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97. Interest payment dates are April 1 and October 1, and the company uses the straight-line method of bond discount amortization. On March 1, 2026, Seminole took advantage of favorable prices of its
The following are four independent situations.a. On March 1, 2026, Wilke Co. issued at 103 plus accrued interest $4,000,000, 9% bonds. The bonds are dated January 1, 2026, and pay interest semiannually on July 1 and January 1. In addition, Wilke Co. incurred $27,000 of bond issuance costs. Compute
On June 30, 2025, Mischa Auer Company issued $4,000,000 face value of 13%, 20-year bonds at $4,300,920, a yield of 12%. Auer uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and -December 31.Instructions(Round answers to the
Sabonis Cosmetics Co. purchased machinery on December 31, 2024, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each December 31. An assumed interest of 8% is implicit in the purchase price.InstructionsPrepare the journal entries that would be
On January 1, 2025, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1. JWS uses the effectiveinterest method. Prepare the company’s journal entries for (a) The January 1 issuance, (b) The July 1
Holiday Company issued its 9%, 25-year mortgage bonds in the principal amount of $3,000,000 on January 2, 2011, at a discount of $150,000, which it proceeded to amortize by charges to expense over the life of the issue on a straight-line basis. The indenture securing the issue provided that the
On December 31, 2025, Faital Company acquired a computer from Plato Corporation by issuing a $600,000 zero-interest-bearing note, payable in full on December 31, 2029. Faital Company’s credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to
Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2025, at 102. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount.InstructionsPrepare the journal entries to record the following.a.
Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816. The bonds are dated January 1, 2025, and mature January 1, 2030. Interest is payable annually on January 1.InstructionsSet up a schedule of interest expense and discount amortization under the straight-line
On January 1, 2025, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of redemption, the unamortized premium was $15,000. Prepare the corporation’s journal entry to record the reacquisition of the bonds.
On January 1, 2025, Aumont Company sold 12% bonds having a maturity value of $500,000 for $537,907.37, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2025, and mature January 1, 2030, with interest payable December 31 of each year. Aumont Company allocates interest
Samantha Cordelia, an intermediate accounting student, is having difficulty amortizing bond premiums and discounts using the effective-interest method. Furthermore, she cannot understand why GAAP requires that this method be used instead of the straightline method. She has come to you with the
On January 2, 2020, Banno Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2029. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in
Karen Austin Inc. has issued three types of debt on January 1, 2025, the start of the company’s fiscal year.a. $10 million, 10-year, 15% unsecured bonds, interest payable quarterly. Bonds were priced to yield 12%.b. $25 million par of 10-year, zero-coupon bonds at a price to yield 12% per year.c.
Coldwell, Inc. issued a $100,000, 4-year, 10% note at face value to Flint Hills Bank on January 1, 2025, and received $100,000 cash. The note requires annual interest payments each December 31. Prepare Coldwell’s journal entries to record (a) The issuance of the note and (b) The
At December 31, 2025, Hyasaki Corporation has the following account balances:Show how the above accounts should be presented on the December 31, 2025, balance sheet, including the proper classifications. Bonds payable, due January 1, 2034 Discount on bonds payable Interest
Samson Corporation issued a 4-year, $75,000, zero-interest-bearing note to Brown Company on January 1, 2025, and received cash of $47,664. The implicit interest rate is 12%. Prepare Samson’s journal entries for (a) The January 1 issuance and (b) The December 31 recognition of interest.
Matt Perry, Inc. had outstanding $6,000,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,000,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 11% bonds (with unamortized
On December 31, 2025, American Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $3,000,000 note receivable by the following modifications:1. Reducing the principal obligation from
McCormick Corporation issued a 4-year, $40,000, 5% note to Greenbush Company on January 1, 2025, and received a computer that normally sells for $31,495. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 12%. Prepare McCormick’s
Vargo Corp. owes $270,000 to First Trust. The debt is a 10-year, 12% note due December 31, 2025. Because Vargo Corp. is in financial trouble, First Trust agrees to extend the maturity date to December 31, 2027, reduce the principal to $220,000, and reduce the interest rate to 5%, payable annually
On June 30, 2017, County Company issued 12% bonds with a par value of $800,000 due in 20 years. They were issued at 98 and were callable at 104 at any date after June 30, 2025. Because of lower interest rates and a significant change in the company’s credit rating, it was decided to call the
Shlee Corporation issued a 4-year, $60,000, zero-interest-bearing note to Garcia Company on January 1, 2025, and received cash of $60,000. In addition, Shlee agreed to sell merchandise to Garcia at an amount less than regular selling price over the 4-year period. The market rate of interest for
On January 1, 2025, Carter Company makes the two following acquisitions.1. Purchases land having a fair value of $200,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $337,012.2. Purchases equipment by issuing a 6%, 8-year promissory note having a maturity value
Presented below are two independent situations.a. On January 1, 2025, Wright Inc. purchased land that had an assessed value of $350,000 at the time of purchase. A $550,000, zero-interest-bearing note due January 1, 2028, was given in exchange. There was no established exchange price for the land,
Strickland Company owes $200,000 plus $18,000 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2025, Strickland’s business deteriorated due to a faltering regional economy. On December 31, 2025, Moran State Bank agrees to accept an old machine and cancel the entire
Day Company had bonds outstanding with a maturity value of $300,000. On April 30, 2025, when these bonds had an unamortized discount of $10,000, they were called in at 104. To pay for these bonds, Day had issued other bonds a month earlier bearing a lower interest rate. The newly issued bonds had a
On January 1, 2025, Avery Co. borrowed and received $400,000 from a major customer evidenced by a zero-interest-bearing note due in 3 years. As consideration for the zero-interest-bearing feature, Avery agrees to supply the customer’s inventory needs for the loan period at lower than the market
At December 31, 2025, Redmond Company has outstanding three long-term debt issues. The first is a $2,000,000 note payable which matures June 30, 2028. The second is a $6,000,000 bond issue which matures September 30, 2029. The third is a $12,500,000 sinking fund debenture with annual sinking fund
The following amortization and interest schedule reflects the issuance of 10-year bonds by Capulet Corporation on January 1, 2019, and the subsequent interest payments and charges. The company’s year-end is December 31, and financial statements are prepared once yearly.Instructionsa. Indicate
Brady Sports began operations on January 2, 2025. The following stock record card for footballs was taken from the records at the end of the year.A physical inventory on December 31, 2025, reveals that 100 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume
Explain the following terms.a. LIFO layer.b. LIFO reserve.c. LIFO effect.
Bienvenu Enterprises reported cost of goods sold for 2025 of $1,400,000 and retained earnings of $5,200,000 at December 31, 2025. Bienvenu later discovered that its ending inventories at December 31, 2024 and 2025, were overstated by $110,000 and $35,000, respectively. Determine the corrected
Trout Company uses the LIFO method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2025, the LIFO reserve has a credit balance of $1,300,000. At December 31, 2025, Trout’s internal reports indicated that the FIFO inventory balance was $2,900,000 and for
Clark Pierce conducts a wholesale merchandising business that sells approximately 5,000 items per month with a total monthly average sales value of $250,000. Its annual bad debt rate has been approximately 1½% of sales. In recent discussions with his bookkeeper, Mr. Pierce has become confused by
From inception of operations to December 31, 2025, Fortner Corporation provided for uncollectible accounts receivable under the allowance method. The provisions are recorded, based on analyses of customers with different risk characteristics. Bad debts written off were charged to the allowance
Jim Carrie Company shows a balance of $221,140 in the Accounts Receivable account on December 31, 2025. The balance consists of the following.InstructionsIllustrate how the information above should be shown on the balance sheet of Jim Carrie Company on December 31, 2025. Installment accounts due in
Presented below is information related to the Accounts Receivable accounts of Gulistan Inc. during the current year 2025.1. An aging schedule of the accounts receivable as of December 31, 2025, is as follows.*The $3,240 write-off of receivables is related to the 91-to-120 day category.2. The
The Flatiron Pub provides catering services to local businesses. The following information was available for The Flatiron Pub for the years ended December 31, 2024 and 2025.Flatiron management is preparing for a meeting with its bank concerning renewal of a loan and has collected the following
Corrs Wholesalers Co. sells industrial equipment in exchange for a standard 3-year note receivable. Revenue is recognized at time of sale. Each note is secured by a lien on the equipment and has a face amount equal to the equipment’s list price. Each note’s stated interest rate is below the
Wilton, Inc. had net sales in 2025 of $1,400,000. At December 31, 2025, before adjusting entries, the balances in selected accounts were Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,400 credit. If Wilton estimates that 8% of its receivables will prove to be
On December 31, 2025, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 11% is imputed.InstructionsPrepare the
As the manager of the accounts receivable department for Beavis Leather Goods, Ltd., you recently noticed that Kelly Collins, your accounts receivable clerk who is paid $2,500 per month, has been wearing unusually tasteful and expensive clothing. (This is Beavis’s first year in business.) This
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