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Archy [21]
3 years ago
12

RecRoom Equipment Company received a $9,200, six-month, 9 percent note to settle a $9,200 unpaid balance owed by a customer.

Business
1 answer:
PolarNik [594]3 years ago
8 0

Answer:

RECROOM EQUIPMENT COMPANY

Date                     Description                             DR                   CR

a. Nov 1                Note Receivable                    8000

                            Allowance on debt                 1,200

                          Account Receivable                                           9,200

                 <em> Being the settlement of customers deb</em>t

b. Dec 31                Interest receivable                 120

                          Interest   Income                                                     120

                   <em>Being the interest accrued at the year end </em>

<em />

c. 30 April              Cash                                        720

                           Interest receivable                                               120

                           Interest income                                                    600

             <em>Being the receipt of interest at maturity date</em>

<em />

d. April 30              Cash                                      8000

                           Note receivable                                                 8,000

                    <em>Being the  settlement of principal at maturity </em>                          

Explanation:

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The current price of the stock is $68.42

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The dividends on a stock that pays a constant dividend and will cease paying dividend after a defined period can be treated as an annuity. The dividends are constant and are paid after equal interval of time and for a defined period of time. To calculate the price of the share today, we will use the formula for the present value of ordinary annuity. The formula is,

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Businesses engage in research and development (R&D) when they want to produce new products or find ways to enhance the ones they already have. Larger businesses might have their own in-house research and development group that will evaluate and improve items or procedures prior to use in the marketplace.


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