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quester [9]
2 years ago
13

Jasper makes a $44,000, 90-day, 9% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and intere

st at maturity should be
Business
1 answer:
vovikov84 [41]2 years ago
3 0

Jasper's entry to record the collection of the note and interest at maturity should be:

Debit     Cash Account 44,990

Credit    Interest Income $990

Credit    Notes Receivable $43,000

The amount collected is:

Cash collected

= $44,000 Amount lend + Interest Income

And

Interest Income

= Amount lend * Interest Percent * For the days / 360

= $44,000 * 9% * 90 / 360

= $990

Now putting the interest income value in the above equation, we have:

Cash collected

= $44,000 Amount lend + $990

= $44,990

So the cash is increase by $44,990 interest income increased is by $990 and the Note receivable is at amount issued which has been decreased by $44,000.

Learn more about Journal entry here: brainly.com/question/14972126

#SPJ1

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I................................
asambeis [7]

Answer:

u..............................

6 0
2 years ago
As a company grows, it may become necessary for it to create an ______
viva [34]

<u>Answer:</u>

<em>As a company grows, it may become necessary for it to create an </em><u><em>Organizational chart</em></u><em> which is a visual display of the organizational structure which contains lines of authority (chain of command),  staff relationships,  permanent committee arrangements, and lines of communication.</em>

<em></em>

<u>Explanation:</u>

The organization chart is a chart indicating the connection of one department graphically to another, or others, of an organization. It is additionally used to show the relationship of one office to another, or others, or of one capacity of an association to another, or others.  

Using the organization chart continuously, show the "structure of a business", government, or other association. Organization diagrams have an assortment of employments and can be organized from multiple points of view.

4 0
3 years ago
5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur
Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

                                   SALES TAX CONTROL ACCOUNT

Payable s                                             $ 3250        Receivables       $4000

Balance c/d (owned to tax authority)   $ 750

                                                           -------------                                ---------------

                                                             $ 4000                                    $4000

                                                           --------------                               ----------------

                                                                              By balance b/d       $ 750

8 0
3 years ago
Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an ann
VashaNatasha [74]

Answer:

So, accounting rate of return = 33 %

Explanation:

given data

net income after tax = $179,850

initial cost = $545,000

time = 7 year

salvage value = $34,000

we will get here  the accounting rate of return

solution

as we know that accounting rate of return is express as

accounting rate of return = Net income ÷ initial investment    .................1

put here value and we get

accounting rate of return = \frac{179850}{545000}  

So, accounting rate of return = 33 %

7 0
2 years ago
A smartphone manufacturing company uses social media to achieve different business objectives. Match each social media activity
bekas [8.4K]

Explanation:

Following is the correct matching of different social media activities with the objectives of the company.

Releases videos of its new, high tech smartphone manufacturing facility

To give consumers a peek into its operations

Hosts an online sweepstakes and gives the winners an extended warranty on a smartphone model

To increase brand loyalty  

Gives bloggers a new smartphone handset before the model is on the market

To create consumer awareness about a new product

Ask customers to determine their next model using hashtag #NEWMODEL

To allow consumers to be part of product development

5 0
3 years ago
Read 2 more answers
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