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Exercise 7-14 (Part Level Submission) Co. Hayduke was short of cash, and Kingbird Co. agreed to accept a $281,500 zero- (a) Prepare the journal entry

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Exercise 7-14 (Part Level Submission) Co. Hayduke was short of cash, and Kingbird Co. agreed to accept a $281,500 zero- (a) Prepare the journal entry to record the transaction of December 31, 2015, for the Kingbird Co. (Round present value and final answers to o decimal places, e.g. 5,275. If no entry is required, select "No Entry Dec. 31, 2015

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