Wudchuk Corp. purchased inventory in exchange for a $ 15,000 three-month short-term non-interest-bearing note. The note is

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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 answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jan 30, 2024 05:11 AM

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Wudchuk Corp. purchased inventory in exchange for a $ 15,000 three-month short-term non-interest-bearing note. The note is

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Income Tax Fundamentals 2013

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