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Munchen Company prepays $89,000 for inventory to be delivered in two years. The applicable effective interest rate is 6%. Upon delivery, Muchen should recognize the
Munchen Company prepays $89,000 for inventory to be delivered in two years. The applicable effective interest rate is 6%. Upon delivery, Muchen should recognize the purchase of inventory at: Multiple choice question. $100,000 $11,000 $89,000
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