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Marrrta [24]
3 years ago
5

On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules,

which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $430,000 to its supplier using a 12-month, 10% note.
(1) The loan of $600,000 and acceptance of the note receivable on April 1, 2021.

(2) The adjustment for accrued interest on December 31, 2021.

(3) Cash collection of the note and interest on April 1, 2022.


Record the above transactions for Shoemaker Corporation.
Business
1 answer:
tigry1 [53]3 years ago
7 0

Answer:

Please see attachment

Explanation:

Please see attachment

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You have been at fault in your second accident in six months. your insurance company is going to increase your annual premium by
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<h3>What is the annual premium?</h3>

The annual premium is the amount that a policyholder pays to the insurance company for a one-year insurance policy.

The annual premium helps to guarantee payment of indemnity when the covered events occur.

This implies that the annual premium is a periodic contribution that helps in the pooling of risks by the insured to help the insurer meet its indemnity obligations.

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Thus, the adjusted premium based on a current annual premium of $975, increased by a 28% penalty for being at fault in the second accident in six months, is <u>$1,248</u>.

Learn more about the annual premium at brainly.com/question/25280754

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At your next meeting with the senior management team, you suggest this, and you're met with a lot of blank looks. The managers d
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