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Journalize the transactions for the stock subscription plan for Rico Company.On February 1,Rico received subscriptions for 90 shares of $10 par value common stock at $15 per share.The buyer will pay two equal installments on March 1 and June 1.Assume all payments are made as scheduled and the company issues the stock after the June 1 collection.
Purchasing Power Parity
An economic theory that compares different countries' currencies through a "basket of goods" approach to determine the relative value of the currencies.
Per Capita Income
measures the average income earned per person in a given area in a specified year.
Life Expectancy
The average number of years a person is expected to live based on demographic factors such as their birth year, current age, and other social factors.
Energy Consumption
The amount of energy utilized by devices, systems, or processes, often measured in joules, kilowatt-hours, or other energy units.
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