Cypress purchased a 50,000-hectare tract of timber land at Westerlund on June 7,2010, for $50 million, paying $10 million cash and signing a % mortgage payable for the balance. Principal payments of $8 million and the annual interest on the mortgage are due each December 31. It is estimated that this tract will yeild 1 million tonnes of timber. The timber tract’s estimated residual value is $2 million. Cypress expects it will cut all the trees and then sell the Westerlund site in five year.
https://proficientwriters.net/wp-content/uploads/2020/04/logo-300x60.png 0 0 Paul https://proficientwriters.net/wp-content/uploads/2020/04/logo-300x60.png Paul2020-09-27 11:14:232020-09-27 11:14:23Cypress purchased a 50,000-hectare tract of timber land at Westerlund on June 7,2010, for $50 milli