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OnMay 15, 2018 Whitecliff Industries acquired some earth moving equipment by way of a $40,000 six-month discounted bank bill.The cash amount received was $36,400. Assuming
OnMay 15, 2018 Whitecliff Industries acquired some earth moving equipment by way of a $40,000 six-month discounted bank bill.The cash amount received was $36,400.
Assuming a 30 June reporting date
how how any liabilities relevant to this transaction would be disclosed on 30 June 2018 statement of financial position for the discounted bill.
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