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Lady bird [3.3K]
3 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]3 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

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arlik [135]

Answer:

Credit unions

Explanation:

offer higher savings rates and lower interest rates on loans

8 0
3 years ago
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Barbara operates a sporting goods store. She uses the cash method and treats inventory as nonincidental supplies. At the beginni
hoa [83]

Answer:

$454,000

Explanation:

Ending inventory is the value of the inventory in the store at the end of the year.

Goods are purchased and added to the the beginning inventory, the sale for the period is deducted from it. the residual value is the value of ending Inventory.

In This question it is assumed that there is $26,000 of beginning inventory of the goods. $470,000 of the purchases were made and at the end of the year there was $42,000 balance of inventory.

We can calculate the deduction value as follow

Ending Inventory = Beginning Inventory + Purchases - deduction

$42000 = $26,000 + $470,000 - deduction

$42000 = $496,000 - deduction

Deduction = $496,000 - $42,000 = $454,000

5 0
3 years ago
If actual sales totaled $500,000 for the current year (40,000 units at $12.50 each) and planned sales were $495,000 (45,000 unit
irina [24]

Answer: <u>The answer is A. $60,000 increase.</u>

<u />

Explanation: 1: The actual units sold multiplied by the budgeted sale price is equal to a total of $440000 (40000 x 11 = $ 440000)

2: The actual units sold multiplied by the actual sale price is equal to $500000 (40,000 x 12.5 = $ 500,000)

3:<u> $500000 - $440000 = </u><u>$60000</u><u> increase by the unit price factor.</u>

<u />

4 0
3 years ago
(Will mark BRAINLIEST) Can someone explain what exactly this question is asking?:
Mekhanik [1.2K]

The question asks to describes any two methods of searching a job when you actually need for a new job. Also to search jobs you can prefer,

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Before you start chasing for a new position you've set aside some effort to clean your resume, take a stab at scanning for openings online by visiting the "Professions" page on different organizations' website pages, perusing different quest for new employment destinations, or experiencing the activity board facilitated by your college. Online occupation sites are regularly called work banks.

They are a decent method to secure current position declarations that meet your criteria. Secure position advertisements on the web, in work banks, on organization sites, at work fairs, and the sky is the limit from there. At that point follow the tips to react to those openings. Address bosses to extend your system and find out about conceivable employment opportunities.

7 0
3 years ago
What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemploymen
Oksanka [162]

Answer:

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Explanation:

8 0
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