A $1,000 bill from a medical provider has terms of 1/10, net/30.

How much must be remitted to the provider if the amount is paid within the discount period?

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On July 1, 2013, a $12,000 general liability insurance premium was paid for a one-year period from July 2013 through June 2014.

Prepare journal entries on 07/01/13 and 07/31/13.

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A company purchased medical equipment for $77,000 on July 1, 2013. It estimated that the equipment will have a salvage value of $7,000 and a useful life of 7 years.

Assuming that the company's year ends on December 31 of each year, what will be the depreciation expense for the years 2013 and 2014 assuming straight-line depreciation?

Answer rating: 100% (QA)

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