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amid [387]
3 years ago
5

Blossom Company lends Blue Spruce industries $61200 on August 1, 2022, accepting a 9-month, 12% interest note. If Blossom Compan

y accrued interest at its December 31, 2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date
Business
1 answer:
Svetlanka [38]3 years ago
8 0

Answer:

Dr interest expense   $2448

Dr interest payable    $3060

Dr Notes payable      $61,200

Cr cash($2448 +$3060 +$61,200)                 $ 66,708.00  

Explanation:

The interest accrued at 31st December 2022 is interest for 5 months which is calculated thus:

interest as at 31st December=5/12*12%*61,200=$3060

On that interest expense would have been debited while interest payable is credited with $3060

On the due date, interest for another months need to computed as follows:

interest for four months=4/12*12%*61,200=$2448

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Answer: (C) Planning

Explanation:

The planning is the term that is used to manage all the functions in an organization and perform various types operations for achieving the desired goals in an organization.

The main objective of the planning is that it helps in achieving the main goal and target and it also organize all the functions in an organization in planned way.

The planning is one of the most important factor in an organization as it helps in manage all the resources and also the productivity an organization.

According to the given question, Sergio is the manager of the software company and he work on the new project and in context of the given management situation Sergio using the planning method.  

 Therefore, Option (C) is correct answer.

7 0
2 years ago
When the interest rate increases, the opportunity cost of holding money Group of answer choices increases, so the quantity of mo
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An increase in the interest rate increases the opportunity cost of holding money and leads to a reduction in the quantity of money demanded

<h3>What is opportunity cost ?</h3>

The opportunity cost of a particular activity option in microeconomic theory is the loss of value or benefit that would be incurred by engaging in that activity, as opposed to engaging in an alternative activity that offers a higher return in value or benefit.

The value of the next best alternative or option is referred to as the opportunity cost. This value may or may not be monetary. Value can also be measured using other criteria such as time or satisfaction. One formula for calculating opportunity costs could be the ratio of what you give up to what you gain.

To know more about opportunity cost follow the link:

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5 0
2 years ago
An entrepreneur purchased an existing bicycle shop that had between 13000
Pani-rosa [81]

Answer:

Write the full question a so I can answer?

4 0
2 years ago
Professional standards are achieved through _____________.
zvonat [6]

Answer:

The correct answer is Habitual Practice

Explanation:

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2 years ago
Sarkis is a sales manager for the bratney companies, a company that manufactures equipment used in the processing of grains and
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The decision is made under the condition of Uncertainty, Because T<span>he goal is clear, but there is no clear solution to the problem
The condition of uncertainty occurs when the managers are required to take a certain decision which outcome couldn't be predicted by the Organization.
To handle this type of situation, the managers must willing to take the chance of failure that could damage the organization while providing the organization to advance at the same time.</span>
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2 years ago
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