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Morgan buys a male python from a snake dealer who tells him that the snake carries the albino allele. Morgan mates the snake with an albino female, and four normally pigmented offspring are produced. Morgan rushes back to the snake dealer and demands his money back stating that the male he bought is not heterozygous for the albino allele because all of its offspring had normal pigmentation.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.
Premium
The excess of the issue price of bonds over their face amount; the excess of the issue price of stock over its par value.
Bonds Payable
A liability account that records the amount owed by an entity to holders of its bonds, to be repaid at a specified future date.
Straight-Line Method
An accounting method for calculating the depreciation of an asset, distributing its cost evenly across its useful life.
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