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Recording Asset Acquisition through Debt Teslla Corporation purchased land by signing a note with the seller requiring $6,000 immediately and $16,800 three years after the
Recording Asset Acquisition through Debt Teslla Corporation purchased land by signing a note with the seller requiring $6,000 immediately and $16,800 three years after the purchase. The note is noninterest-bearing, but the interest rate for similar land purchases with notes of similar risk is 8%. Note: Round your final answers to the nearest whole dollar. a. Compute the value recorded in the Land account. Answer 14,891 b. Compute the interest the company records for the first year
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