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Golder Co. owes $100,000 to Gulf Finance Co. The debt is a 4-year, 10% note. During 2015, Golder experiences financial difficulties. On January 1, 2016,
Golder Co. owes $100,000 to Gulf Finance Co. The debt is a 4-year, 10% note. During 2015, Golder experiences financial difficulties. On January 1, 2016, Golder negotiates a settlement of the note by issuing Guld Finance Co. 20,00 $1 par ordinary shares. The ordinary shares have a market price of $3.75 per share on the date of the settlement. Prepare Golder's entries to settle this note. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I S Paragraph Arial
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