Question
Blue Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Blue should pay $19,010 at the time of purchase and
Blue Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Blue should pay $19,010 at the time of purchase and $4,500 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 12%?
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Internal Auditing An Integrated Approach
Authors: Richard Cascarino
3rd Edition
1485110599, 978-1485110590
