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Tidwell Company sold the following two machines in 2014: Instructions
Journalize all entries required to update depreciation and record the sales of the two assets in 2014. The company has recorded depreciation on the machine through December 31, 2013.
Non-interest-bearing
A financial term describing a debt or loan that does not accrue interest over time.
Simple Interest
A method of calculating the interest charge on a loan based on the original principal balance and not on accumulated interest.
T-bill
A short-term government security with maturity periods ranging from a few days to 52 weeks.
Prevailing Yield
The current return rate on an investment, typically referring to bonds or other fixed-income securities.
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