Exercise 10-9 - 2,500 Trading Securities....

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EXERCISE 10-9 (Continued) (b) (1) 7/31 Cash . ......................................................... 300,000 Note Payable. ............................... 300,000 Machine . ................................................... 200,000 Trading Securities. ................................ 100,000 Cash. ............................................... 300,000 (2) 11/1 Cash . ......................................................... 102,500 Interest Revenue ($100,000 X 10% X 3/12) . .......
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Unformatted text preview: 2,500 Trading Securities. ..................... 100,000 Machine . ................................................... 100,000 Cash. ............................................... 100,000 (3) 12/31 Machine . ................................................... 6,000 Interest Expense ($17,400 $6,000) . ............................. 11,400 Cash ($30,000 X 8%). ................. 2,400 Interest Payable ($300,000 X 12% X 5/12) . ....... 15,000...
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