Jones Delivery Services Bought a Truck by Paying $84,000 Cash $\quad$

question 77

Short Answer

Jones Delivery Services bought a truck by paying $84,000 cash down and signing a $248,000 non-interest-bearing note due in five years for the balance. Current interest rates were 8%. Actuarial information for five periods at 8% follows:
Amount of 1 $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ 1.469
Present value of 1 $\quad$ $\quad$ $\quad$ $\quad$ 0.680
Amount of annuity of 1 $\quad$ $\quad$ 5.867
Present value of annuity of 1 $\quad$ 3.993
Required:
Compute the amount that should be charged to the asset account.

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Definitions:

Neuromuscular Junction

A synapse between a motor neuron and a skeletal muscle cell, where electrical signals or impulses are transmitted to initiate muscle contraction.

Myofilaments

The thin and thick protein filaments within muscle cells that are responsible for muscle contraction.

Muscle Tissue

A type of tissue in animals specialized for contraction, facilitating movement of the body or materials within the body.