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Business, 16.04.2020 18:39 jnthnsngh

On November 1, 2005, Morris Corporation sold land priced at $340,920 in exchange for a 7%, six-month note receivable. 26. Refer to the above data. On May 1, 2006 (maturity date), the note is collected in full by Morris Corporation. Assuming a fiscal year-end of December 31, Morris recognizes which of its income statement for 2006 with regard to this note?

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On November 1, 2005, Morris Corporation sold land priced at $340,920 in exchange for a 7%, six-month...
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