accounting and law
Assuming Peter Nelson LLP owed a duty of care to the Bank of Business Solutions, did Peter Nelson, LLP breach that duty of care?
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Order Paper NowIn determining whether breach occurred, make sure to perform the following accounting analysis:
a. Recreate the journal entry that MicroDex made when it sold the stock to Greenco. How much gain was recognized on the sale of the stock? How much cash inflow did this transaction create for MicroDex?
b. Calculate the present value of the note receivable using a 15% interest rate. Using the present value of the note as the only economic benefit received, recalculate the gain or loss on the transaction.
