Leonette decided that Meaghan was smart to get her business started by buying on the installment plan.
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Leonette decided that Meaghan was smart to get her business started by buying on the installment plan. That way she would have an operating expense and keep her ready cash as operating capital. Leonette decided to buy computer equipment for her accounting practice. The total cost of the equipment which will also include furniture is $12,000. Leonette plans to pay $2,000 down and make 5 payments of $ 2,000 plus interest at 10% per annual payment.
At what amount should Leonette record her purchase?
Related Book For
Managerial Economics Foundations of Business Analysis and Strategy
ISBN: 978-0078021718
11th edition
Authors: Christopher Thomas, S. Charles Maurice
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