Mathematics, 06.12.2021 04:40, juliana211

Lubbock Corporation acquires machinery from South Company in exchange for a $20,000 non-interest-bearing, 5-year note on June 30, 2019. The note is due on June 30, 2024. The machinery has a fair value of $11,348.54, is subject to straight-line depreciation, and has an estimated life of 10 years (no residual value). Lubbock’s fiscal year ends June 30.

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Lubbock Corporation acquires machinery from South Company in exchange for a $20,000 non-interest-bea...