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Business, 26.11.2019 19:31 lbelle

On july 1, 2018, markwell company acquired equipment. markwell paid $160,000 in cash on july 1, 2018, and signed a $640,000 noninterest-bearing note for the remaining balance which is due on july 1, 2019. an interest rate of 5% reflects the time value of money for this type of loan agreement. for what amount will markwell record the purchase of equipment?

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