Mystic Pizza Company purchases a franchise from NY Pizzeria, Inc., for $96,000 on June 1, Year 1.

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Mystic Pizza Company purchases a franchise from NY Pizzeria, Inc., for $96,000 on June 1, Year 1. The franchise will last eight years.
Record Mystic Pizza’s purchase of the franchise on June 1 and adjusting entry at the end of Year 1.

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Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Question Posted: Dec 09, 2013 10:20 AM

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Mystic Pizza Company purchases a franchise from NY Pizzeria, Inc., for $96,000 on June 1, Year 1.

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Intermediate Accounting

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