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Why do you amortize 36,000 instead of 12,000? (72,000/3 years/ 6months (from 7/1 - 12/31)? On July 1, Year 1, Roxy Co. obtained fire insurance
Why do you amortize 36,000 instead of 12,000? (72,000/3 years/ 6months (from 7/1 - 12/31)? On July 1, Year 1, Roxy Co. obtained fire insurance for a 3-year period at an annual premium of \\( \\$ 72,000 \\) payable on July 1 of each year. The first premium payment was made July 1, Year 1. On 2 answers
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Cornerstones of Financial and Managerial Accounting
Authors: Rich Jones, Mowen, Hansen, Heitger
1st Edition
9780538751292, 324787359, 538751290, 978-0324787351
