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seropon [69]
3 years ago
10

Valley Spa purchased $8,000 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 12% promissory note for $8,000. I

f the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
Business
1 answer:
MrMuchimi3 years ago
8 0

Answer:A/R, IR, NR

Explanation: Journal entry to record Dishonored note are as follows

A/R- Debit your Account Receivable for the total of principle and interest owned.

IR - Credit the interest revenue account for the interest amount receivable.

NR- Credit the notes receivable account for the principle balance.

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Select the correct answer.
Lana71 [14]

Answer:

B-section 404

Explanation:

it is registered as 404

6 0
3 years ago
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, the beginning of the
Serhud [2]

Answer:

a. $213,000

Explanation:

8 0
2 years ago
When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than
inysia [295]

Answer: Air travel is a normal good and vacation travel by car is an inferior good

Explanation: What is a normal good and what is an inferior good.

Normal goods are those goods for which the demand rises as consumer income rises. While inferior goods are goods whose demand increases when consumer income decreases.

This therefore means that the demand of inferior goods is inversely related to the income of the consumer.

From the question above, we can say that car trips are inferior goods while the air travel are normal goods.

3 0
3 years ago
Read 2 more answers
The Chief Financial Officer of Five Star Food Distributors has asked you to evaluate the building of a new warehouse. As an astu
salantis [7]

The answer is<u> "net present value".</u>


Net Present Value (NPV) is the estimation of all future cash flows (positive and negative) over the whole existence of a venture limited to the present. Net Present Value examination is a type of natural valuation and is utilized widely crosswise over back and representing deciding the estimation of a business, speculation security, capital task, new pursuit, cost decrease program, and anything that includes income.

8 0
3 years ago
A company begins a review of ordering policies for its continuous review system by checking the current policies for a sample of
Maru [420]

Answer:

Explanation:

Given that:

weekly demand = 72 units

no of weeks in 1 year = 48

Then; total demand = 72 × 48 = 3456 units

No of orders = \dfrac{\text{total demand }}{EOQ}

= \dfrac{\text{3456}}{145}

∴

The periodic review (P) = \dfrac{1}{no \ of \ orders}

= \dfrac{1}{\dfrac{3456}{145}}

= \dfrac{145}{3456}

= 0.041956 year

≅ 2 weeks

Z score based on 88 percent service level = NORMSINV(0.88) = 1.18

Here;

Lead time = 3 wks

P = 2 weeks

Thus protection interval = ( 3+2) weeks

= 5 weeks

Safety stock = z-score × std dev. of demand at (P+L) days

std dev = \sqrt{5 } \times 18 = 2.236 × 18

std dev = 40.248 units

Safety stock = 1.18 × 40.248

safety stock = 47.49 units

Safety stock ≅ 48 units

Average demand during(P + L) = 5 × 72 units

= 360 units

Target inventory level = average demand + safety stock

= 360 units + 48 units

= 408 units

3 0
3 years ago
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