An accountant has debited an asset account for $980 and credited a liability account for $490. What can be done to complete the recording of the transaction? Debit another asset account for $490. Nothing further must be done. Debit a stockholders’ equity account for $490. Credit a different asset account for $490.

The modern medicine company is considering a new project which will require an initial cash investment of $425,000. the project will produce no cash flows for the first 2 years. the projected cash flows for years 3 through 6 are $31,000, $56,000, $250,000, and $429,000, respectively. how long will it take the firm to recover its initial investment in this project?