1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lady bird [3.3K]
4 years ago
13

Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on

December 31, to record the accrued interest on the note
Business
1 answer:
kolbaska11 [484]4 years ago
3 0

Answer:

The answer is

Dr: Notes Receivable $4,800

Dr: Interest Receivable $120

Cr: Sales $4,920

Explanation:

The yearly interest rate is 10%

So the interest rate for 90 days(assume 360 days make a year?

90/360 x 10%

2.5% is the interest rate for 90 days.

The interest payment for 90 days will be;

2.5% x $4,800

= $120

The entry will now be:

Dr: Notes Receivable $4,800

Dr: Interest Receivable $120

Cr: Sales $4,920

You might be interested in
Financial managers must know how to interpret a company's financial statements in order to Multiple select question. effectively
RideAnS [48]

Financial Managers must know how to interpret a company's financial statements to effectively allocate the firm's financial resources and generate the best return possible for the company in the long run.

<h3>Financial Managers</h3>

They analyze the company's finances and report on the finding to their senior managers to maximize profits. Their role mainly includes:

  • Prepare financial reports
  • Review financial information
  • Analyze market position for growth purposes

As with enhancement in technology, financial manager's role is mainly shifted from preparations of reports to analysis and determine the best possible ways for companies to expand.

<h3>Multiple Selections</h3>

Keeping in view the above points mentioned, the financial managers cannot recruit suitable candidates not setting the price of the company's product is their duty. Therefore, these points are invalid.

However, their roles do include allocating the firm's financial resources and generating the best returns for the company to grow in the long run.

Learn more on Financial Managers here: brainly.com/question/1305901

7 0
2 years ago
Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual in
babymother [125]

Answer:

The Journal entries are as follows:

(a) On November 5,

Merchandise inventory A/c  Dr. $6,000

To Accounts payable                              $6,000

(To record the purchasing of Merchandise inventory)

(b) On November 7,

Accounts payable A/c        Dr. $250

To Merchandise inventory                  $250

(To record the returned units)

(c) On November 15,

Accounts payable A/c     Dr. $5,750

To cash                                                $5,635

To Merchandise inventory                 $115

Workings:

Final amount due:

= Cost of goods purchased - Cost of goods returned

= 6,000 - 250

= $5,750

Discount amount:

= Final amount due × Discount percentage

= 5,750 × 2/100

= $115

Cash payment to be made:

= Final amount due - Discount amount

= 5,750 - 115

= $5,635

3 0
3 years ago
Read 2 more answers
Helena Fogarty does her own research and development for Mi Ola. When she goes out and talks to fellow surfers about their use a
Ilia_Sergeevich [38]

Helena Fogarty is in Idea generation  stage of new product development.

Option A

<u>Explanation: </u>

Idea generation describes the process of actively looking for new solutions and creating proposals that do not yet exist. Idea generation mainly applies to the initiation of the learning process.

It is clear that ideas alone are not going to make creativity possible, since a formal mechanism to handle such ideas must be established. The aim is not only to produce loads of them, but also to take account of the nature of them.

Thoughts are the first move towards change, as described above. Development is based on fresh ideas as individual people. From an individual's point of view, whether you feel stuck in the loop or cannot fix any certain problem, new concepts can help you change forward.

4 0
3 years ago
The price elasticity of supply measures how responsive a. sellers are to a change in price. b. sellers are to a change in buyers
laila [671]

Answer:

a. sellers are to a change in price    

Explanation:

The price elasticity of supply measures the percentage change in quantity supplied with the percentage change in price

In mathematically,

Price elasticity of supply = (Percentage change in quantity supplied ÷  percentage change in price)

It shows a direct relationship between the quantity supplied and the price.

5 0
3 years ago
In the Common Criteria, the common set of functional and assurance requirements for a category of vendor products deployed in a
Daniel [21]

Answer:

protection profiles.

Explanation:

Common Criteria can be defined as an international set of guidelines and specifications which are designed and developed for the evaluation of an information security product, in order to ensure that they meet an agreed-upon and specific security standard for general use by the public. It comprises of two (2) key components: Evaluation assurance level and protection profiles.

In the Common Criteria, the common set of functional and assurance requirements for a category of vendor products deployed in a particular type of environment are known as protection profiles.

5 0
4 years ago
Other questions:
  • Jessica Weller, a senior manager at DigWell Inc., differentiates the annual pay raises provided to her subordinates based on the
    13·1 answer
  • Lisa works for a nonprofit agency seeking funding for a community project. What type of proposal is she likely to write to the l
    5·2 answers
  • Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to
    15·1 answer
  • Dave took an intelligence test and received an iq score of 62. he was classified as intellectually disabled. of the following, w
    13·1 answer
  • Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,400 tires to the Nixon Car Company for $55 e
    15·1 answer
  • Suppose Powers Ltd., just issued a dividend of $1.20 per share on it common stock. The company paid dividends of $.85, $.92, $.9
    6·1 answer
  • Kasey Corp. has a bond outstanding with a coupon rate of 5.87 percent and semiannual payments. The bond has a yield to maturity
    6·1 answer
  • If management adopts Ryan's suggestion of reducing Frozen Fun Ice Cream's charitable donations until profits grow, the company w
    7·1 answer
  • André is going to college, and his parents want to make sure he doesn't overspend his money. They want him to stick to a strict
    7·1 answer
  • What percentage of a person's effectiveness in a leadership role is due to heredity?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!