Answer:
The journal entry to be recorded for the payment of the note on date of maturity is shown below:
Explanation:
The journal entry to be recorded for the payment of the note on date of maturity is as follows:
Notes Payable A/c..........................Dr $9,000
Interest expense A/c......................Dr $148
Cash A/c..........................................Cr $9,148
Being payment of the note payable is reported on the maturity date
As on the day of the payment, the cash is going out of the business which means assets is decreasing and any decrease in assets is credited. Therefore, the cash account is credited. And the notes payable is paid so the notes payable account is debited and interest expense account will also be debited.
Working Note:
Interest expense = $9,000 × 10% × 60/ 365
Interest expense = $148
Answer: The supervisor should compare the register transactions with the cash receipts report to make sure that both are correct.
Explanation:
The cash register shows the actual amount of money that is collected by the business during the day and the cash receipts journal records the cash collected.
There is therefore a need to ensure that these two tally up as a control method. The supervisors should therefore check for this and if they find that these two are not the same, it means that there is an error somewhere that needs to be rectified.
Answer:
carrot cake originated from such carrot puddings eaten by Europeans in the Middle Ages, when sugar and sweeteners were expensive and many people used carrots as a substitute for sugar.
Market is more for everyone working as a group and entrepreneurship is when there is one owner that works
Answer:
The correct answer is letter "B": strategy.
Explanation:
The strategy section of a business plan highlights all the techniques the firm could carry out to produce, publish, and sell its goods or services. Besides, in this section, the main problems a company might face during operations are exposed and the methods specialists will implement to attempt to figure out those situations.
