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In-s [12.5K]
3 years ago
14

On November 1, 2021, Ziegler Products issued a $200,000, 9-month, noninterest-bearing note to the bank. Interest was discounted

at a 12% discount rate. Required: Prepare the appropriate journal entry by Ziegler to record the issuance of the note. Determine the effective interest rate. Suppose the note had been structured as a 12% note with interest and principal payable at maturity. Prepare the appropriate journal entry to record the issuance of the note by Ziegler. Prepare the appropriate journal entry on December 31, 2021, to accrue interest expense on the note described requirement 3, for the 2021 financial statements. Comparing the two structures of the note presented in the problem, which will incur more interest over the 9-month period? Explain Why?
Business
1 answer:
IceJOKER [234]3 years ago
7 0

Answer:

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Answer:

c. A credit to Earned Fees for $1,000.

Explanation:

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Answer:

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... the fish in the river are an example of <u>common resource</u>, and the fish in the private pond are an example of <u>private good.</u>

<em>* the first sentence is wrong, the fish in the river are nonexcludable since anyone can fish on the river, or at least try to.</em>

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If a good is rival in consumption, it means that if one person consumes it, it will lower the ability of another person to consume the good.

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