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Misha Larkins [42]
3 years ago
10

Presented below is a partial amortization schedule for Premium Foods:

Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

<em>Please Note the table for better understanding</em>

Period  Issue   Cash  Paid   Interest  Expense  Decrease in     Carrying  

Date                                                                   Carrying Value    Value

                                                                                                       $85,959

1   $2,900           $2,586             $314                   $85,645        

2  $2,900           $2,578              $322                   $85,323

1)     Journal Entry                                     Debit         Credit

       Cash A/C                                           $85,959

           <em>To Premium on Bonds payable $9,959</em>

            To Bonds Payable                                          $76,000

2)     Journal Entry                               Debit           Credit

       Interest Expense                        $2,586

       Premium on Bonds Payable        $314

               To Cash                                                      $2,900

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8 0
3 years ago
A decrease in the supply of a good can be expected to cause ____ in the equilibrium price of the good and ____ in the equilibriu
JulsSmile [24]

Answer:

Increase, Decrease

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A decrease in supply will cause the quantity available for buyers to buy to decline. Consequently, the volume purchased will be fewer.  Equilibrium quantity will, therefore, decrease.

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Ann [662]

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3 0
3 years ago
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Oksana_A [137]

Answer:

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It should be noted thatReversing entries are;

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