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mel-nik [20]
3 years ago
12

On december 1, 2016, escobar consulting, which uses a calendar year as its fiscal year, signs a $4,000, 12%, four-month note pay

able. journalize the entry to record the payment of the note and entire interest on april 1, 2017.
Business
1 answer:
loris [4]3 years ago
7 0
The journal entry to record the payment of the note and entire interest on april 1, 2017 is as follows; Debit Notes Payable $4,000, Debit Interest Expense 120, Debit Interest Payable 40, <span>Credit Cash $4,160.

April 1,2017
       Notes payable     $4,000
       Interest expense    $120
       Interest payable       $40
                       Cash                  $4,160</span>
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The correct answer is B.

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Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.

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3 years ago
A salesperson is offering promissory notes for a company selling coffee at drive-through kiosks. The notes pay a 13% interest ra
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Answer:

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To offer a promissory note, both the salesperson and the note must be registered in the state.  Only promisory notes that have maturities of 9 months or less, that are investment grade, and are sold in minimum increments of $50,000 are exempt from registration.  

Finally, the tell-tale sign of fraud are:

Statements that tho notes are "guaranteed" or insured, especially by bogus foreign entities.

Promises of above-market rates fo return

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Answer:

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boyakko [2]

Answer:

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