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On January 1, 2015, Peg, Inc

question 8

Essay

On January 1, 2015, Peg, Inc. bought some equipment by signing a non-interest-bearing note for $160,000. The note is to be paid in four equal annual $40,000 payments, beginning on December 31, 2015. Current interest rates were 8%. The present value and future value information for 8%, 4 periods follows: On January 1, 2015, Peg, Inc. bought some equipment by signing a non-interest-bearing note for $160,000. The note is to be paid in four equal annual $40,000 payments, beginning on December 31, 2015. Current interest rates were 8%. The present value and future value information for 8%, 4 periods follows: Required: Prepare the journal entries necessary on January 1, 2015, and December 31, 2015. Required:
Prepare the journal entries necessary on January 1, 2015, and December 31, 2015.

Definitions:

Potential Employment

The possibility or prospect of being hired for a job or position.

Analysis and Design of Work

The process of examining tasks and work processes for the purpose of improving efficiency, quality, and employee satisfaction.

Overlapping Tasks

Situations where job responsibilities or projects are shared among multiple employees or departments, often leading to collaborative efforts or confusion.