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Please help me solve the question below, thank you very much!!! On December 31, 2018, Aston Corporation rendered services to Fried Company, accepting $80,000 immediate
Please help me solve the question below, thank you very much!!!
On December 31, 2018, Aston Corporation rendered services to Fried Company, accepting $80,000 immediate cash and agreeing to accept the balance in four equal installments of $40,000 receivable each December 31.
Instructions: Make all appropriate entries that would be recorded by Aston Corporation for the transaction and for the receipts and interest Assuthe that the effective interest method is used and the interest rate is 10%.
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