Answer:
i think it would be loan officer but im not sure sorry if thats wrong
Answer and Explanation:
The computation is shown below:
Interest payable:
= Borrowed amount × rate of interest × given months ÷ total months
= $80,000 × 7% × 5 ÷ 12
= $2,333.33
And,
Interest expense:
= Borrowed amount × rate of interest × given months ÷ total months
= $80,000 × 7% × 3 ÷ 12
= $1,400
So here for recording the payment of interest the interest payable is debited for $2,333.33
The same is to be considered
The correct option is A. The effect of tax cut is reduction in the amount of money that the government is generating and increase in the amount of money available to those whose taxes are reduced. Government usually cut taxes in order to boost the economy through increased spending.
