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amm1812
2 years ago
6

A ________ is a contract that provides that a seller of a business or an employee will not engage in a similar business or occup

ation within a specified geographical area for a specified time following the sale of the business or termination of employment.
Business
1 answer:
Mariulka [41]2 years ago
7 0

Answer:

The answer is non-compete agreement

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3 years ago
On February 2, Flint Corp.'s board of directors voted to discontinue operations of its frozen food division and to sell the divi
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Answer: $40,000

Explanation:

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= Gain from Sales of Asset - Net losses in period

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8 0
3 years ago
On January 1, 2015, Brooks Inc. borrows $90,000 from a bank and signs a 5% installment note requiring four annual payments of $2
Black_prince [1.1K]

Answer:

The journal entry which is to be recorded for the first installment payment on the note is shown below:

Explanation:

The journal entry is as on December 31, 2015

 Interest Expense A/c.................Dr  $4,500

Notes Payable A/c.......................Dr  $20,881

              Cash A/c..............................Cr   $25,381

Working Note:

Interest expense = Borrowed amount × 5%

= $90,000  × 5%

= $4,500

Note Payable = Cash - Interest expense

= $25,381 - $4,500

= $20,881

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3 years ago
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