Rains Company purchased equipment on January 1 at a list price of $75,000, with credit terms 2/10, n/30. Payment was made within the discount period. Rains paid $3,750 sales tax on the equipment, and paid installation charges of $1,320.
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Landmark Company This company reported the following information in the stockholders' equity section of its December 31, 2019 balance sheet: 7% Cumulative, Non-participating Preferred Stock, $100 par, 500 shares authorized, issued, and outstanding,
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