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On January 1, 2010, Crabb & Co. sold land to Chiles, Inc. in exchange for a note with a maturity value of $500,000. The note

On January 1, 2010, Crabb & Co. sold land to Chiles, Inc. in exchange for a note with a maturity value of $500,000. The note is due December 31, 2012 and interest is owed each December 31 at a rate of 6%. Chiles

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