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On December 31, 2020, Pina Company acquired a press from Sugar Corporation by issuing a $397,000 zero-interest-bearing note, payable in full on December 31,
On December 31, 2020, Pina Company acquired a press from Sugar Corporation by issuing a $397,000 zero-interest-bearing note, payable in full on December 31, 2023. Pina's credit rating permits it to borrow funds from its several lines of credit at 8%. The press is expected to have a 6-year life and a $36,000 salvage value.
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull
10th edition
9781305176218, 113393594X, 1305176219, 978-1133935940
