On January 1 , 2 0 1 9 , Price Pricey signed a purchase commitment for three
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Question:
On January Price Pricey signed a purchase commitment for three years supplies of floppy disk.
The agreement was: per year at the price of $ each. During the second year, the floppy
disks to Price Pricey became worthless and can be sold for only $ each. What is the entry at
December to record the purchase commitment loss?
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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