Cannondale company purchased an electric wax melter on april 30, 2020, by trading in its old gas model and paying the balance in cash. the following data relate to the purchase. list price of new melter $15,800 cash paid 10,000 cost of old melter (5-year life, $700 salvage value) 11,200 accumulated depreciation-old melter (straight-line) 6,300 secondhand fair value of old melter 5,200 prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. cannondale’s fiscal year ends on december 31, and depreciation has been recorded through december 31, 2019.

Can you with personal finance homework1 abbreviation of annual percentage rate which the interest rate is applied annually to a loan or a credit card balance2 abbreviation of annual percentage yield the rate of return earn in the course of one whole year taking compounding into amount expressed as a percentage3 cash and other liquid assets such as demand deposits or treasury bills than individual possesses4 an expense that does not vary from one time period to the next5 to obtain a new loan for something on different terms often involving the pain off of an existing high-interest loan by means of a new lower interest one6 money set aside for future use7 to take money out of an account8 to plan the allocation expenditure or use of money9 the amount of money spent on food clothing and other basic necessities10 the amount of money that is anticipated to be received over a. of time either as payment for work goods or services or as profit on capital