On december 31 2012 ed abbey co performed environmental, Ask an Expert

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On December 31, 2012, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a $287,000 zero-interest-bearing note due December 31, 2014, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Abbey is much more creditworthy and has various lines of credit at 6%.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91054892

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