The company ‘Don Rufian’ lends a supplier, with many financial problems, $100,000 payable in three equal instalments of $50,000 each.You are asked to:(a) Indicate the initial recognition (accounting entry).b) Draw up the development table in an EXCEL spreadsheet, considering that the IRR is 23.375193% per month.c) Make the entries on the dates on which the instalments are paid.
The company ‘Don Rufian’ lends a supplier, with many financial problems, $100,000 payable in three equal instalments of $50,000 each.You are asked to:(a) Indicate the initial recognition (accounting entry).b) Draw up the development table in an EXCEL spreadsheet, considering that the IRR is 23.375193% per month.c) Make the entries on the dates on which the instalments are paid.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The company ‘Don Rufian’ lends a supplier, with many financial problems, $100,000 payable in three equal instalments of $50,000 each.
You are asked to:
(a) Indicate the initial recognition (accounting entry).
b) Draw up the development table in an EXCEL spreadsheet, considering that the IRR is 23.375193% per month.
c) Make the entries on the dates on which the instalments are paid.
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