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SSSSS [86.1K]
3 years ago
12

Dan buys a property for $260,000. he is offered a 30-year loan by the bank, at an interest rate of 6% per year. what is the annu

al loan payment dan must make?
Business
1 answer:
Law Incorporation [45]3 years ago
8 0
20,280 is the right answer
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Return to questionItem 6Item 6 E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] FedEx Co
madreJ [45]

<u>Solution and Explanation:</u>

The following formulas will be used in order to calculate the accounts receivable turnover ratio and in order to find out the number of days collect.

Accounts receivable turnover ratio = Net sales divided by Average net Accounts receivable

=\$ 50,370 /[(\$ 7,250+\$ 5,720) / 2]

=\$ 50,370 / \$ 6,485

= 7.77 times

<u>Days to collect</u> = 365 divided by Accounts receivable turnover ratio

= $365  divided by 7.77

= 47 days

<u>Note</u>: The number of days that has been assumed is 365 days

4 0
3 years ago
The following merchandise transactions occurred during December for two different companies: Rippen
kondaur [170]

The accounting entries for Rippen Corporation is recorded as follows:

December 3,

DR Accounts Receivable (Burnen Corp.) $480,000

CR Sales $480,000

DR Cost of Goods Sold $320,000
CR Inventory $320,000

December 8,

DR Sales Return $30,000

CR Accounts Receivable $30,000

DR Inventory $20,000

CR Cost of Goods Sold $20,000

December 12,

DR Cash $441,000

DR Credit Discount $9,000

CR Accounts Receivable $450,000

<h3>What is Journal Entry?</h3>

A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.

The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.

Learn more about Journal Entries at brainly.com/question/27076717

#SPJ1

5 0
1 year ago
As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The fir
I am Lyosha [343]

Answer:

1.5

Explanation:

Current ratio = current asset/current liabilities

This ratio is used to determine how quickly the current assets can be used to settle the current liabilities as they fall due.

current assets = $120,000

current liabilities = $80,000

The firm's current ratio = $120,000/$80,000

                                      = 1.5

5 0
2 years ago
Which of the following businesses poses the highest degree of difficulty in e-commerce? Portals and infomediaries Businesses suc
koban [17]

Answer:

Businesses that rely on a physical infrastructure.

Explanation:

e-commerce is a short for electronic commerce and it can be defined as a marketing strategy that deals with meeting the needs of consumers, by selling products or services to the consumers over the internet.

This ultimately implies that, e-commerce is strictly based on the buying and selling of goods or services electronically, over the internet or through a digital platform. Also, the payment for such goods or services are typically done over the internet such as online payment services.

In view of the above details, businesses that rely on a physical infrastructure poses the highest degree of difficulty in e-commerce because it's only dependent online retailing.

3 0
3 years ago
Camrio Consultants conducted a meeting to make a decision about continuing a business contract with a client. The manager presid
goldenfox [79]

Answer:

A learning and effectiveness paradigm is not in place

Explanation:

Managers are more likely to employ people of like manners that will always follow the dame line of thought with them , an act that is not seen as a good practice as diversity of human resources can always bring out the best practice.

One of the tools of managing diversity towards achieving plurality  in organisation is a learning and effectiveness paradigm.

It is a tool used in integrating diverse personality , beliefs and attitudes in an organization.

7 0
3 years ago
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