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4 years ago

Fees paid at the time of a home loan transaction between the buyer, seller and lender are called _____.

1 answer:

7 0

That fees are called the Closing costs

These payment usually being done when both the buyer and the seller close the deal.

Closing costs can be incurred by either buyer or the seller, such as :
- Attorney fees
- Survey Fees
- documentation fees
- Home Warranties , etc

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A company issues a 5-year bond with a $7,500 discount. Using straight-line amortization, the company should:

Marina CMI [18]

Answer:

B) credit discount bonds with payable $1,500 per year.

Explanation:

A company issues a 5-year bond with a $7,500 discount. Using straight-line amortization, the company should: -credit interest payable $1,500 per year.

7 0

3 years ago

Assume that a tire company sells 4 tires to an automobile company for $400, another company sells a compact disc player for $500

gtnhenbr [62]

Answer:

A) $20,000

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Items not included in the calculation off GDP includes:

1. services not rendered to oneself

2. Activities not reported to the government

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

The stereo and the tires wont be included in GDP because they are intermediate goods. It is only the final good, the car, that would be included in GDP

3 0

3 years ago

At the beginning of the current period, Marin Corp. had balances in Accounts Receivable of $195,100 and in Allowance for Doubtfu

melamori03 [73]

Answer:

The journal entries are as follows:

(a) (i) Sales A/c Dr. $745,500

To Accounts receivable A/c $745,500

(To record the sales)

(ii) Cash A/c Dr. $835,120

To Accounts receivable A/c $835,120

(To record the collections)

(b) Allowance for doubtful accounts A/c Dr. $7,831

To Accounts receivable A/c $7,831

(To record the write-off of uncollectible accounts during the period)

To Allowance for doubtful accounts A/c $3,184

(To record the recovery of the uncollectible account)

Cash A/c Dr. $3,184

To Accounts receivable A/c $3,184

(To record the recovery)

(d) Bad debts expense A/c Dr. $19,397

To Allowance for doubtful accounts $19,397

(To record the bad debt expense for the period)

Workings:

Bad debts expense:

= $24,100 - (9,350 - 7,831 + 3,184)

= $19,397

7 0

3 years ago

________ is money that is borrowed with the promise to pay it back.

Zielflug [23.3K]

B - credit because that's the money you pay back to make sure that you make se credit for yourself

7 0

4 years ago

Which of the following economic perspectives focuses on the need for government to use spending and taxes to shift aggregate dem

ad-work [718]

Answer:

B. Keynesian

Explanation:

Keynesian economics or theory believes that government can boost the economy and stimulate or increase demand, in times of economic downturn, by increasing spending and lowering taxes.

This increase in government activities will create jobs and reduce unemployment and lead to more spending and investment, by individuals and businesses, in the economy.

4 0

4 years ago