Maurice Tutor

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Expertise:
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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 31 Jul 2017 My Price 6.00

Edwin, Inc.

On November 1, 2007 Edwin, Inc., borrowed cash and signed a $60,000, one year note payable.

Required
1. Compute the following items assuming
(i) An interest-bearing note at 12%,
(ii) A non-interest-bearing note discounted at 12%:
a. Cash received
b. Effective interest rate
c. Interest expense for 2007
2. Prepare the journal entries for Edwin, Inc. under each case for 2007 and 2008.

Answers

Maurice Tutor
(5)
Status NEW Posted 31 Jul 2017 08:07 AM My Price 6.00

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