2. Levied property taxes of $100,000; $98,000 was collected during the year. The balance is expected to
Question:
2. Levied property taxes of $100,000; $98,000 was collected during the year. The balance is expected to be uncollectible.
3. Borrowed $60,000 by issuing a nine-month note bearing interest at 7 percent.
4. Repaid the note plus interest when due.
5. Borrowed $600,000 by issuing bonds at par. The bonds mature in 10 years.
6. Purchased equipment costing $25,000 with cash.
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Related Book For 
Advanced Accounting
ISBN: 9781292214597
13th Global Edition
Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith
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