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Can someone help me answer this Halifax Hats. Inc. agreed to accept a notes receivable from Quebec Designs in which it will receive $200,000 in
Can someone help me answer this Halifax Hats. Inc. agreed to accept a notes receivable from Quebec Designs in which it will receive $200,000 in one year and S200.000 in two years. Quebec Designs can borrow at a rate of 10%. The present value factors for 1 year is .90909 and 2 years is .82644. Prepare the entry to record the transaction for Halifax. Prepare the entry to record the receipt of the first payment in one year
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