The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
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Chapter 19, Problem 2IS
Summary Introduction
Case Summary :Person E contracted with another person D to buy a horse on her behalf. E directed D not to disclose her identity. D bought a horse from FS and made the down payment. Later, E did not make rest of the payment. FS sued D for a breach of contract.
To find: The liability of E to pay the damages.
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During the year, Kiner Company made an entry to write off a $9,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $315,000 and the balance in the allowance account was $27,000. The net realizable value of accounts receivable after the write-off entry was: A. $200,000. B. $184,000. C. $176,000. D. $288,000. answer
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The Legal Environment of Business: Text and Cases
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