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On June 1 2010 Jorgensen Corporation purchased a piece of equipment with a list price of $ 200000 and signed a five- year noninterest

On June 1, 2010, Jorgensen Corporation purchased a piece of equipment with a list price of $ 200,000 and signed a five- year noninterest- bearing note. The market rate at the time the note was signed was 8 percent. Given the following amortization schedule for the note and the fact that Jorgensen has a December 31 fiscal year- end, make the entries necessary for 2010, 2011, and 2012.

Apr 21 2020 View more View Less

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