Answer:
Conceptual framework
The modern world is an OLRT (On-Line Real Time) world. The days of prolonged waiting for a report on the performance and financial position of a business are past. Time is money and time is limited. Information should be available as events occur because one event can mean the difference between success and failure.
The problem poses three questions and expects answers. The answers to all three questions are in the affirmative:
Financial information would be more useful, more relevant and more reliable in an OLRT electronic, paperless world
Answer:
Dr. Cash $4,200
Cr. Interest Income $84
Cr. Note Receivable $4,116
Explanation:
Food Suppliers
Interest on the Note = $4,200 x 8% x 90 / 360 = $84
Amount to be recorded = $4,200 - $84 = $4,116
At the Time of Issuance the Journal Entry was
Dr. Note receivable $4,116
Cr. Sales $4,116
So, the Payment of $4,200 will be made.
The Interest Income will be $84
Now the Note Receivable account will be adjusted by receiving cash and recording interest income.
Answer:
checking accounts are better for transaction such as paying pills purchases, atm withdraws while saving accounts are better for storing money and earning interest,
Explanation:
Answer:
Option C: Buying a franchise
Explanation:
Franchise is simply defined as a business that sells or distribute a product or service that has beingdeveloped by a franchisor. It is usually in the way or manner that the franchisor listed.
The product, method of distribution, and, sales and management are governed or controlled by the franchisor of the business.
The process of purchasing that is buying of a Franchise is by looking into franchising company, contact, application, franchise contact and review, franchise agreement, negotiation terms, agreement signed and others.
