COST MANAGMENT WITH CONNECT ACCESS
COST MANAGMENT WITH CONNECT ACCESS
8th Edition
ISBN: 9781307273823
Author: BLOCHER
Publisher: MCG/CREATE
Question
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Chapter 13, Problem 49P

1.

To determine

Calculate the life-cycle income for each option.

2.

To determine

Identify the option which would be more appropriate.

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Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.Assume 360 days in a year. March 29 Received a $57,600, 60-day, 8% note dated March 29 from Karie Platt on account.April 30. Received a $43,200, 60-day, 10% note dated April 30 from Jon Kelly on account.May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged forthe note, including interest.June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for thenote, including interest.August Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days26. at 12% on the total amount debited to Karie Platt on May 28.October Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the22. dishonored note dated April 30.   March 29th  ____________  _____  _____ ____________  _____  _____ Apr 30 ____________  _____  _____ ____________…
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