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On December 31, 2017, Bramble Company acquired a computer from Plato Corporation by issuing a...

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Accounting

On December 31, 2017, Bramble Company acquired a computer from Plato Corporation by issuing a $592,000 zero-interest-bearing note, payable in full on December 31, 2021. Bramble Companys credit rating permits it to borrow funds from its several lines of credit at 12%. The computer is expected to have a 5-year life and a $66,000 salvage value. 1 The amount of interest expense to be recognized for the year ending 12/31/2018 will be

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