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Business, 04.11.2020 19:00 tripleog12716

Pippa Corporation agreed to sell all its capital stock to Putney Inc. for four monthly payments of $300,000. After Putney made the first required payment, it ceased making other payments. The stock subscription agreement states that Putney thus forfeits its payments and is entitle to no other future payment. How should Pippa record the $300,000 forfeited payment

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