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Svetradugi [14.3K]
3 years ago
10

Vanderbilt Corporation, which utilizes a calendar year as its fiscal year, is the payee on a $12,000, 7%, 8-month note receivabl

e from Stanford Company on October 1st, 2016. Journalize the entry to record the receipt of payment in full on June 1, 2017.
Mathematics
1 answer:
Vedmedyk [2.9K]3 years ago
3 0
Given:
Payee: Vanderbilt Corporation
Notes Receivable from Stanford Company
<span>$12,000, 7%, 8-month 
                               
                                         Debit             Credit

October 1, 2016
Notes Receivable            12,000 
           Cash                                           12,000
*to record notes receivable from Stanford Company

December 31, 2016
Interest Receivable               560
           Interest Income                                560

12,000 * 7% * 8/12 = 560
*to recognize interest earned but not yet received

June 1, 2017
Cash                                  12,560
          Notes Receivable                        12,000
          Interest Receivable                           560
*to recognize full payment on note.</span>
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Answer:

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Step-by-step explanation:

First, find the volume of a single cube: V = s³, where s = side length

V = s³; s = 1/5

V = (1/5)³

V = 0.008 ft³

**Note: (1/5)³ is equal to 1/125 as a fraction. I put it down in decimal form because it's easier for me to work with decimals.**

Now, to find the volume of the prism (which is <u><em>completely</em></u> filled with cubes), multiply the volume of one cube by the total number of cubes: 1750.

(1750)(0.008)

14 ft³

The volume of the prism is 14 ft³.

Hope this helps!

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