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On Nov. 1, 20x1 Sunny Friday Co. discounted a P1,000,000 6-month, 12% note, received from a customer on July 1, 20x1 with a bank at
On Nov. 1, 20x1 Sunny Friday Co. discounted a P1,000,000 6-month, 12% note, received from a customer on July 1, 20x1 with a bank at 16%. Requirement: provide the entry on Nov. 1 under each of the following scenarios : a. without recourse basis, b. with recourse basis - conditional scale, c. with recourse basis - secured borrowing
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
