Answer: See explanation
Explanation:
The general journal entries necessary to adjust the interest accounts at December 31 will be:
1. December 31:
Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102
Credit: Interest payable = $102
(To accrue interest expenses for the note issued on November 10).
2. December 31:
Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120
Credit: Interest payable = $120
(To accrue interest expenses for the note issued on December 1)
3. December 31:
Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67
Credit: Interest payable = $36.67
(To accrue interest expenses for the note issued on December 20).
Answer:
The answer is: A) Smithers will lose because of past consideration
Explanation:
Past consideration in contract law refers to acts that were done before the contract was made. Since those acts were already performed, they are not affected by the other party´s actions or promise of actions.
Smithers had already worked for the company for 20 years (and received a salary for doing so), so his prior work cannot be part of a new contract with the company.
Explanation:
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Answer:
c
Explanation:
Ос.
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