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Stanley Bodner, M.D., performs medical services for Sickman and receives a $4,000, non-interest-bearing note due in 3 years. Prepare the journal entry for Dr.
Stanley Bodner, M.D., performs medical services for Sickman and receives a $4,000, non-interest-bearing note due in 3 years. Prepare the journal entry for Dr. Bodner if: (a) The fair market value of these services is $3,200. (b) The fair market value is unknown; however, Sickman's imputed interest rate is 12%.
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A B 1 a Fair Market Value of the services is 3200 2 3 Date General Journal Debit 4 Dr Notes ...
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
