Answer:
(a) Taci Company lent the money on September 1:
Debit Notes receivable $88,000
Credit Cash $88,000
<em>(To recognize notes receivable)</em>
(b) On December 1:
Debit Cash $88,880
Credit Notes receivable $88,000
Credit Interest receivable $880
<em>(Collection of notes principal and interest at maturity)</em>
Explanation:
Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.
Interest revenue on the notes is calculated as: Principal x Interest Rate x Time
In this case, the total interest revenue is $88,000 x 4%/12 x 3 months = $880.
Monthly interest revenue is therefore $880 / 3 months = $293.33.
Answer:
The correct answer is letter "C": Globalized market.
Explanation:
Globalized markets are those characterized by trade networks among countries cooperating with the commercialization of products and services of each other. Countries with globalized markets tend to gather to define the trade conditions as well to negotiate lower tariffs to allow the increase of exports, thus, a boost in their economies.
Answer:
Revision is a process in writing of rearranging, adding, or removing paragraphs, sentences, or words. Writers may revise their writing after a draft is complete or during the composing process
Explanation: