Business, 14.04.2020 17:31 samantha636
On October 1, 20X1, a company purchased a piece of land by agreeing to pay the seller $450,000 in two years. If the company had borrowed the money from a bank to pay the seller immediately, management estimates the bank would have required interest of 9%. For what amount should the company record the land on the date of purchase (rounded to the nearest dollar)?
a. $450,000.
b. $412,844.
c. $378,756.
d. $369,000
Answers: 1
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On October 1, 20X1, a company purchased a piece of land by agreeing to pay the seller $450,000 in tw...
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