Consider the following transactions for Huskies Insurance Company: a. Equipment costing $35,400 is purchased at...
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Accounting
Consider the following transactions for Huskies Insurance Company: a. Equipment costing $35,400 is purchased at the beginning of the year for cash. Depreciation on the equipment is $5,900 per year. b. On June 30, the company lends its chief financial officer $39,000; principal and interest at 5% are due in one year. c. On October 1, the company receives $11,600 from a customer for a one-year property insurance policy. Deferred Revenue is credited.
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