Which of the following events would be recognized and recorded in the accounting records of the Friese
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Which of the following events would be recognized and recorded in the accounting records of the Friese Corporation on the date indicated?
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Jan. 15 Friese Corporation offers to purchase a tract of land for $140,000. There is a high likelihood that the offer will be accepted. Feb. 2 Friese Corporation receives notice that its rent will be increased from $500 per month to $600 per month effective March 1. Mar. 29 Friese Corporation receives its utility bill for the month of March. The bill is not due until April 9. June 10 Friese Corporation places a firm order for new office equipment costing $21,000. July 6 The office equipment ordered on June 10 arrives. Payment is not due until August 1.
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