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creativ13 [48]
3 years ago
15

On June 8, Alton Co. issued an $88,500, 7%, 120-day note payable to Seller Co. Assume that the fiscal year of Seller Co. ends Ju

ne 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Seller in the following year? When required, round your answer to the nearest dollar.
Business
1 answer:
Furkat [3]3 years ago
3 0

Answer:

Amount of interest revenue recognized =\frac{2065\times 98}{120}=$1686.41

Explanation:

Principal amount P = $88500

Rate of interest r = 7 %

Total number of days = 120

So interest =\frac{principal\ amount\times rate\times time}{100}=\frac{88500\times 7\times 120}{360\times 100}=$2065

Number of days from 8 june to 30 june = 30-8 = 22 days

So left days = 120-22 = 98 days

So amount of interest revenue recognized =\frac{2065\times 98}{120}=$1686.41

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What is protectionism and why would a country base trade policy on it? Explain at least two reasons.
Anton [14]
Protectionism is a government or economic policy that does not allow foreign or international trade through methods and variety of government regulations outlined to promote fair competition with the goods and services made domestically. Business and workers were protected within a country through regulating or obstructing trade with different countries.

<span>A country should base trade policy for two reasons. 1.) It protects local businesses and jobs.  2.) It promotes fair competition on the local goods and services.</span>


3 0
3 years ago
Sanjeev leases a house from Clara, and the lease has an option contract attached that permits Sanjeev to buy the house if he cho
Aleksandr-060686 [28]

The amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

<h3>What is a lease agreement?</h3>

A lease agreement is a legal arrangement whereby a person give another person the right to possess the land for use in return for a periodic compensation.

However, the lease agreement can lead to permanent purchase, based on the agreement of the lease.

In conclusion, the amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

Read more about lease agreement

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8 0
2 years ago
The total amount of carbon fixed into organic matter through photosynthesis (or chemosynthesis) in a given unit of time is known
lesya692 [45]

The total amount of carbon fixed into organic matter through photosynthesis (or chemosynthesis) in a given unit of time is known as Gross primary production.

<h3>What is Gross primary productivity?</h3>

Gross productivity generally is the rate of energy capture.

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The whole vitality settled by plants (autotrophs) in a community through photosynthesis is alluded to as net essential efficiency (GPP).

Since all the vitality settled by the plant is changed over into sugar, it is hypothetically conceivable to decide a plant’s vitality take-up by measuring the sum of sugar delivered.

To know more about Gross primary productivity visit:

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4 0
1 year ago
Carl Carpenter buys a drill press. The price, including tax, is $725.00. He finances the drill press over 24 months after making
netineya [11]
First calculate the amount financed
Amount financed=725−50=675

The formula is
I=(2yc)/(m (n+1))
Solve for c to get
C=(I×m×(n+1))/2y
C=(0.14×675×(24+1))÷(2×12)=98.44

Total of payments=675+98.44=773.44

Monthly payment is
773.44÷24=32.23

Hope it helps!

7 0
3 years ago
Read 2 more answers
Jacques maxes out his credit card and then misses several payments in a row before he started paying his bills. How could this a
madam [21]

Answer:

this is correct

B. His credit score would most likely go up. A higher credit score could make lenders refuse to offer him credit or possibly offer him credit at a much higher interest rate

3 0
2 years ago
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