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On September 1, 2019, Miranda Company signed a one-year noninterest bearing note payable with a face amount of $115,000 in exchange for new equipment valued
On September 1, 2019, Miranda Company signed a one-year noninterest bearing note payable with a face amount of $115,000 in exchange for new equipment valued at $111,000. On Sept 1, 2019 Miranda Company will record which of the following? Equipment of $115,000. Cash received of $111,000. A Note Payable of $111,000. Interest Expense of $4,000
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