Project Problem
Write your initial thoughts regarding the following case and project. Then write up 5-7 sentences (good paragraph) with a reference to the case as found in this material as provided.
Case
Nancy Corporation agreed to sell its common stock to Eddie Corporation for five monthly payments of $100,000. Eddie Corporation made the first payment, but did not make any other payments. According to the stock subscription agreement, Eddie Corporation forfeits its payment and is entitled to no further consideration. How should Nancy Corporation account for the $100,000 forfeited payment?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.