Question
(52) A company purchased franchise rights from another company for $100,000, The company paid $65,000 cash and signed a note payable agreeing to pay
(52) A company purchased franchise rights from another company for $100,000, The company paid $65,000 cash and signed a note payable agreeing to pay the remaining $35,000 in the future. What is needed in the journal entry to record this franchise purchase?
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
