When a debtor offers to pay a lesser amount than the creditor originally claimed was owed, and a creditor accepts, the agreement is called <u>Accord and Satisfaction</u>
<u></u>
<h3>Who is a debtor?</h3>
A business or person that owes money is called a debtor. If the debt is in the form of a loan from a financial institution, the debtor is referred to as the borrower, and if the debt is in the form of securities, such bonds, the debtor is referred to as the issuer. A voluntarily petitioner for bankruptcy protection is likewise regarded as a debtor for legal purposes.
<h3>Who is a creditor?</h3>
Usually through a loan arrangement or contract, a creditor is a person or organization that offers credit to another party so they can borrow money. Creditors can be categorized as personal or actual.
Learn more about creditor
brainly.com/question/27705637
#SPJ4
Answer: provide the investors with greater interest yield
Explanation:
Federal Housing Administration (FHA) loan is simply a mortgage insured by the Federal Housing Administration and the main aim of the loan is to help meet the needs of low income earners.
A lender generally charges discount points on an FHA loan on order to provide the investors with greater interest yield.
Answer:
they would each be 4.9 i think
Explanation:
Answer:The answer is $95,000 Loss
Explanation:
Income statement
$
Sales. 450,000
Less:variable cost.
Manufacturing expenses 128,000
Sales commission. 54,000
Shipping. 15,000
---------------- 197,000
-----------------
Contribution. 253,000
Less Fixed Overhead
Advertising. 23,000
Depreciation. 112,000
General factory overhead 49,000
Salary of production line manager 118,000
Insurance on inventories. 6,000
Purchasing department. 40,000
-----------------
348,000
-----------------
Profit/Loss. ( 95,000) Loss
--------------------------
Based on the income statement that showed a loss of $95,000 or decrease in operating income, Yes I would recommend that bilge pump product be discontinued.
Answer:
Explanation:
Other comprehensive income for 2017
The fair value of these shares - Common stock
= $373,150 - $382,500
= -$9,350
Jackson sold all of the monticello stock for $27.25 per share:
$27.25*17,000 = $463,250
Commission : ($15,000)
Net proceeds: $448,250
Acquisition ($382,500 )
Gain on sale $65,750
The joural entry is:
Cash $448,250
