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Unformatted text preview: 18,000 dr loss 2,000 cr ar 20,000 2 loan dr cash 50,600 fee dr finance chg 4,400 net cr note payable 55,000 3 rec allow dr bad debt expense 5,850 cr allowance for doubt a/c 5,850 4 dr bad debt expense 6,450 cr allowance for doubt a/c 6,450 Ex 18 1 Land fv bk value dr note receivable 1,416,163 gain cr discount on nr 516,166 N 4 cr land 590,000 face 1,416,163 cr gain on sale 310,000 I 0.12 pv (899,997) disc 516,166 2 n 8 dr notes receivable 400,000 i 0.12 cr discount on nr 178,835 pmt 12,000 cr revenue 221,165 fv 400,000 pv (221,165) disc 178,835 10,000 250,000 (5,000) (3,000) 242,000 (10,000) 232,000 3,000 235,000 394,000 400,000 (6,000) 394,000 16,000 378,000 20,000 2,000 55,000 4,400 50,600 82,000 4,100 desired bal allow 1,750 5,850 4,100 sales 430,000 % 6,450 900,000 590,000 310,000...
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- Fall '09
- tba
- Debt, Sales, CR Cash CR, dr cash dr
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