14) Greeson Corp. signed a three-month, zero-interest-bearing note on November 1, 2014 for the purchase of $ 250,000 of inventory. The face value of the note was $ 253,900. Greeson used a " Discount on Note Payable " account to initially record the note. Assuming that the discount will be amortized equally over the 3-month period and that there was no adjusting entry made for November, the adjusting entry made at December 31, 2012 will include a
15) Presented below is information available for Marley Company.
Current Assets
Cash $ 4,000
Short-term investments 65,000
Accounts receivable 61,000
Inventories 110,000