Stock or bond by a foreign investor
The purchase of a U.S. stock or bond by a foreign investor is:
a. A credit item in the current account.
b. A debit item in the current account.
c. A credit item in the capital account.
d. A debit item in the capital account.
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George Masonry accepted a four month, 10% interest, $1800 note from Earth Tones on July 1,2008 The entire balance is payable at the note's maturity. Assume that george masonry accrues interest on the note monthly. Prepare the Oct 31 journal entry
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Compute Mark's and Pamela's ending basis in their partnership interests assuming their beginning balances are $150,000 each.
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