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Warren Marina owns a large marina that contains numerous boat slips of various sizes. Warren contracts with boat owners to provide slips to house the
Warren Marina owns a large marina that contains numerous boat slips of various sizes. Warren contracts with boat owners to provide slips to house the customers boats. Lucky Fisher Fleet contracted with Warren to provide space for four of its fishing boats. The contract specifies that Lucky Fishers boats will be kept in identified slips in the marina. The agreement includes the requirement that Warren provide foot slips per boat for a threeyear period, space that Lucky Fisher can modify with fenders, docklines, and equipment needed to conduct its fishing business. Warren cannot switch locations of the boats or modify the slips without Lucky Fishers consent. Lucky Fisher paid $ on March for the first years accommodations. The market rate of interest is Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Required: Prepare the appropriate entrys for Lucky Fisher Fleet at March the commencement of the agreement. Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.
Warren Marina owns a large marina that contains numerous boat slips of various sizes. Warren contracts with boat owners to provide slips to house the customers boats. Lucky Fisher Fleet contracted with Warren to provide space for four of its fishing boats.
The contract specifies that Lucky Fishers boats will be kept in identified slips in the marina.
The agreement includes the requirement that Warren provide foot slips per boat for a threeyear period, space that Lucky Fisher can modify with fenders, docklines, and equipment needed to conduct its fishing business.
Warren cannot switch locations of the boats or modify the slips without Lucky Fishers consent.
Lucky Fisher paid $ on March for the first years accommodations.
The market rate of interest is
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
Prepare the appropriate entrys for Lucky Fisher Fleet at March the commencement of the agreement.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.
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