A Company Purchased Two New Delivery Vans for a Total

question 139

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A company purchased two new delivery vans for a total of $250,000 on January 1, Year 1. The company paid $40,000 cash and signed a $210,000, 3-year, 8% note for the remaining balance. The note is to be paid in three annual end-of-year payments of $81,487 each, with the first payment on December 31, Year 1. Each payment includes interest on the unpaid balance plus principal.
(1) Prepare a note amortization table using the format below: (2) Prepare the journal entries to record the purchase of the vans on January 1, Year 1 and the second annual installment payment on December 31, Year 2.

Identify the nutritional needs and appropriate weight gain during pregnancy.

Acknowledge the importance of certain vitamins and minerals in preventing pregnancy-related conditions and supporting fetal development.

Understand conditions associated with specific nutritional deficiencies or behaviors during pregnancy.

Recognize the health implications of obesity and conditions associated with it.

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Definitions:

Accumulated Depreciation

The cumulative depreciation of an asset up to a single point in its life, representing the decrease in value due to wear and tear over time.

Cost of Goods Sold

The immediate expenses related to the manufacturing of products which a business sells, covering materials and workforce.

Depreciation Expense

An accounting method to allocate the cost of a tangible or physical asset over its useful life.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue; often called the bottom line.