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Recording Asset Acquisition through Debt Teslla Corporation purchased land by signing a note with the seller requiring $10,000 immediately and $28,000 three years after
Recording Asset Acquisition through Debt Teslla Corporation purchased land by signing a note with the seller requiring $10,000 immediately and $28,000 three years after the purchase. The note is noninterest-bearing, but the interest rate for similar land purchases with notes of similar risk is 10%. Note: Round your final answers to the nearest whole dollar. a. Compute the value recorded in the Land account. $ 0 0 b. Compute the interest the company records for the first year of the note. $ Check
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